ISLAMABAD: The Finance Ministry has proposed a number of measures to the Pakistan Railways to make it profitable as gross earning and working expenses of Pakistan Railways increased by 32.76% and 3.89% respectively in previous fiscal year as well as the deficit in the earning and expenditures also increased by 2.71% than the figures of corresponding period of FY 2012-13.
The major reasons of deficit are non availability of locomotives, passenger coaches and rolling stock resulting in decrease of freight and passenger trains, increase in salary and pension of employees as per government orders and increase in prices of fuel, electricity and general inflation in previous years. An initiative has been taken for all payments and pensions through computerized mechanism to eliminate ghost pensioners.
It was further stated that under the proposed measures, rail track from Shandara Bagh to Lalamusa would be doubled; Signaling System on Lodhran, Khanpur, Kotri section would be improved.
The source said that rail network would be connected to Gwadar Port, New Dry Port would be established at Havelian and efforts for introduction of E-Governance in Pakistan Railways were in progress as well as Vigilance Cell had been re-activated to curb the pilferages.
Exporters warn strong rupee is hurting Pakistan’s exports & investment
LAHORE: Pakistan’s exporters have raised concerns over the country’s managed exchange rate policy, arguing that an artificially strong rupee is...
