Pakistan Railway Rs. 28 billion in losses
Much like the notorious country wide airline pia, it seems the pakistan railways (pr) is also now not far behind with regards to losses.
for the fiscal 12 months (fy) 2015-2016 pakistan railway suffered losses amounting to rs. 28 billion. that is an increase in losses by means of 12.sixty four% yr on 12 months regardless of statements being given by using various officials approximately a probable turnaround for the service. Total profits for pr stood at rs. 35.97 billion in fy 2015-16, up from rs. 31.ninety two billion earned in the same period during the previous financial 12 months. costs additionally went up to rs. sixty four.23 billion in fy 15-sixteen increasing from remaining yr’s rs. fifty seven.03 billion. these had been the records furnished by using the ceo and monetary advisor of pakistan railways to the worried ministry.
The deficit of pakistan railways currently stands at rs. 28.three billion and that’s no longer counting the hobby and repayments of loans on capital and alternative account figures. the overall deficit may want to upward push even higher than the contemporary amount.
Prices
The working fees decreased via three% to 18.28 billion in 2015-16 from 18.77 billion in the fiscal year 2014-2015.”different revenue prices” extended with the aid of 28% to rs. 21.fifty four billion in fy 15-sixteen from rs. sixteen.83 billion in fy 14-15.Profit
General passenger income, however, extended to rs. 20.39 billion from previous 12 months’s rs. 17.forty five billion.transportation of goods thru freight operations also noticed a upward push of virtually 28% to rs. 10.fifty nine billion, up from rs. 8.25 billion throughout the equal period ultimate 12 months.
the sundry section which includes pr’s industrial, advertising, land and property department reduced by way of 40% to rs 2.fifty nine billion from remaining yr’s rs. 4.three billion.
common the increasing losses of state owned entities like pakistan railway, pia and others will increase the load on the country wide price range every 12 months, with the taxpayers footing the bill of these businesses 12 months after 12 months.