LAHORE: Pakistan Railways disclosed a loss of Rs187 billion to the national exchequer over the past five years to the senate.
The senate was apprised on Wednesday that the railways posted its highest-ever loss of Rs50.15 billion in a single year in the past fiscal year (FY) ending June 30, 2020.
The record-breaking loss was preceded by a loss Rs32.76 billion during the FY2019, Rs36.62 billion during FY2018, Rs40 billion during FY2017, and Rs26.99 billion in FY2016.
Earlier last month, the Supreme Court had ordered the transformation and recovery of the national railways and had given a deadline of four weeks to the government for the process. Headed by Chief Justice Gulzar Ahmed. An apex court bench had taken a suo moto case in lieu of the late dismal performance of the railways financially.
The apex court has extended the deadline for the revival of railways on a request by the Planning Commission.
Privatize railways 👍🏻
Privatise it for God sakes, most public ventures fail, like PIA.
Indonesian railways was in a similar rut as Pak Railways but it was turned around by the efforts on one man. This clearly shows if you have the right person at the helm and you are willing to back him, he is able to do wonders. Unfortunately Pak railways has for a long time being used for political benefits and Sh Rasheed is one in a long line of incompetent ministers. We need a new head of Pak Railways who also has technical knowledge of how to run a railways or engineering company.