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Pak Railways have suffered losses of 2 trillion rupees over the past 50 years, says Minister of Railways -ANI




Islamabad [Pakistan], February 21 (ANI): Pakistani Federal Minister of Railways Muhammad Azam Khan Swati said Pakistani railways had suffered losses of 1.2 trillion rupees over the past 50 years and the government planned to revive the collapsing organization but did not say how. 90% of those losses in the last two decades alone, “said Dawn, quoting Swati. Azam Swati, who recently secured the rail portfolio, also said:” The average loss is between 35 and 40 billion dollars. rupees a year, “adding that the government plans to revive the crumbling organization as soon as possible. But how? The cash-strapped Pakistani government of Prime Minister Imran Khan’s Tehreek-e-Insaf (PTI) also appears ignorant of his strategy for reviving the railroad than any previous administration. He apparently put all his eggs in the Chinese basket, hoping that the $ 6.8 billion investment in an upgrade to the line Main 1 (ML-1) connecting Peshawar to Karachi would resuscitate the dying business, reported Dawn. can work a miracle. But so far, the project has already encountered difficulties in terms of Chinese funding for the project, delaying work on c this one. “Efforts were made to restore the profitability of the railway at different times but these failed halfway due to the lack of continuity” Nisar Memon, CEO of the railway, said. The CEO said the main drivers of deterioration of rail infrastructure and service and loss of freight business were decades of underinvestment in infrastructure, corruption, mismanagement, political interference, over-employment and loss of freight activities to competing road transport due to lack of national transport. Citing the 2019-2020 economic study, Dawn reported, the railway owns 474 locomotives (458 diesel engines and 12 steam engines) for 7,791 km of track length. In the first eight months of FY20 (July-February), the number of passengers fell to 39.4 million from 39.9 million the previous year. (ANI)

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