Pakistan Railway (PR) reported losses of Rs 48.195 billion for the fiscal year 2022-23. This figure represents a 2.04% increase compared to the previous year.
According to the report, the railway administration has struggled to reduce these losses despite ongoing efforts. The operational costs amounted to Rs 111.914 billion, contributing to the overall loss. Even with a federal government subsidy of Rs 47.5 billion aimed at mitigating losses, the railway continued to face substantial financial setbacks. Additionally, an interest charge of Rs 5.9 billion on overdrafts was not reflected in the railway’s accounts.
On a more positive note, Pakistan Railways achieved record revenue, reporting earnings of Rs 88 billion by the end of the 2023-24 financial year. This marks a significant increase from the previous year’s revenue of Rs 63 billion, representing a 40% rise. This revenue is unprecedented in the history of Pakistan Railways. The government had initially set a revenue target of Rs 73 billion for the department at the beginning of the financial year.
