ISLAMABAD - The initiatives of incumbent authorities in Pakistan Railways have started bearing fruits as Rs. 9.182 billion of revenue was generated in almost five months of current fiscal year.
This shows almost 36 pc increase in revenue as compared to corresponding period of previous fiscal year when Rs. 6.76 billion of revenue was generated.
A revenue data by the Department on Sunday revealed that the new authorities after taking charge in June this year took numerous measures to improve performance and as a result revenue generation showed an increasing trend every month. The data showed that an increase of Rs. 403.418 million in revenue has been witnessed during June as compared to same month last year, in July Rs. 124.571 million, in August Rs. 375.913 million, in September Rs. 647.889 million, in October Rs. 581.655 million and in November this year, the increase in revenue generation was Rs. 288.027 million. The data said profit & loss statement is prepared at the end of financial year on June 30 after closing of accounts, however, Railways administration has generated revenue of Rs. 2.421 billion during the period over and above the revenue generation during the corresponding period of last financial year.
It is quite possible to reduce and ultimately eliminate the losses incurred by Pakistan Railways as the curtailment of losses requires two pronged strategy i.e. revenue generation and curtailment of expenditure. The data said revenue generation is dependent upon the efficient utilization of existing resources both human and capital and at the moment, Ministry of Railways is striving hard to improve its resources base by repairing the defective locomotives and procuring new locomotives in accordance with its system requirements.
The rolling stock both in passenger and freight sector is also given due priority to increase its reliability and efficacy. The resources are being allocated to high priced commodities so that maximum revenue could be secured for the national exchequer. Meanwhile when contacted, railways sources said it is due to the steps that the department has witnessed a considerable increase in the revenue generation in the first quarter of this financial year. They said in order to rationalize expenditure, strict financial controls are exercised and austerity measures are being taken and added the passenger sector is capped at 96 trains in order to control the operational expenditure as only those services are operated which are well patronized.
The resources are allocated to freight sector where revenue outweighs the expenditure, the sources said and added freight sector revenue increased in spite of the ongoing locomotive crisis due to better utilization of existing fleet of locomotives.
Moreover, the sources said apart from these two core sectors, the department has taken a lot of initiatives to enhance revenue through non-core activities. The efforts in this regard will bear fruit in near future which will positively affect the overall performance of the organization.