ZemTV

Railways suffers severe financial crisis in 2 years,deficit increased to Rs 9 billion

Pakistan Railways has suffered a severe financial crisis in the last two years.

102 passenger trains are still closed while freight business is also being affected. Railways, which earned Rs 4 billion more than the target in 2018, earned Rs 7 billion less in 2019. Employees are being suffering to get their dues.

Federal Minister for Railways Sheikh Rashid Ahmed added 34 new passenger trains and 8 freight trains in the last two years and earned Rs 4 billion more than the budget target for 2018, but the next year the company fell victim to financial crisis.

Railway officials say that the annual revenue of the developing railways has decreased by Rs 7 billion and the deficit has increased by Rs 9 billion.

In two years, train accidents have become uncontrollable and more than a hundred accidents, big and small, have called into question the safe journey of the train.

The number of railway employees has come down from less than 100,000 to just 77,000, while the private sector, which operates passenger trains, has also turned its back.

Railway officials say the annual expenditure on salaries, pensions and fuel alone is about Rs 40 billion.

The railways have blamed the Corona epidemic after the previous government for reducing revenue and increasing deficits, while officials say effective measures are being taken to prevent train accidents.

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