Saturday, August 30, 2008
Saeed Ahmed

Islamabad

The Pakistan Railways (PR) is suffering huge losses annually which touched the Rs50 billion mark requiring efforts to clear the outstanding dues failing which this transport system is likely to collapse in future.

“If immediate measures are not taken to overcome the losses then the entire budget of the country would be required for paying the dues of Pakistan Railways,” sources in the Ministry of Railways said.

The annual loss suffered by the PR is apart from the loan that the federal government had borrowed from different banks, financial organisations and firms. In all the Pakistan Railways is not gaining any profit but is incurring huge loss to the national exchequer, he added.

The loans could be covered if big assets of railway lands all over the country are sold out, for which Pakistan Railways has to be privatised. After privatisation, services of international firms are hired to evaluate the total cost of the Railway land, which is worth trillions of rupees, the sources said.

The sources claimed that the daily expenditure of officials like general manager, chairman and directors ranges in lakhs of rupees. The officials that cost millions of rupees annually use saloons during travel from one station to another. The services for passengers need to be improved. The management could open business centres, shopping plazas and commercial centres in the lands belonging to it. All we need is to implement measures like utilising the assets belonging to Pakistan Railways, the sources said.

The official spokesman of the railways could not be contacted for comments despite several attempts. However, an official on the condition of anonymity confirmed the reports of losses being suffered by the railways adding the department has to clear outstanding dues worth Rs50 billion.


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