ISLAMABAD-Pakistan International Airlines (PIA) has incurred a loss of Rs11.307 billion during 2022, while the gross earning of Pakistan Railways decreased by Rs 3.78 billion or 8.64 percent.
However, Pakistan National Shipping Corporation managed to achieve 879pc increase in profit after-tax (PAT) amounting to Rs 23,956 million during first three quarters of FY 2022-23 as against Rs 2,446 million in the corresponding period of the last year, said Pakistan Economic Survey 2022-23. This tremendous increase in profit can be explained by an increase in shipping operations and owing to other non-routine activities such as sale of a tanker vessel ‘M.T. Karachi’, profit earned on revaluation of foreign assets as a result of exchange rate fluctuations.
The public sector passenger and freight transport service via air route is delivered by Pakistan International Airlines (PIA). The national flag carrier, with a total fleet of 35 air planes, earned an operating revenue of Rs. 172,038 million during calendar year, 2022 which increased by 99.6% as compared to previous calendar year. Similarly, operating expenditure during this period increased by 81.2% from Rs. 101,212 million during previous year recording a loss of Rs. 11,307 million.
In an effort to rationalize manpower, cabin crew strength has been brought down from almost 1,500 in 2019 to 1,018 in 2022. The number of regular employees was reduced from 14,500 to 8,029 in the year 2022, bringing per aircraft ratio from 550 to 250.Furthermore, ghost employees and employees with fake degrees were terminated.
The freight and passenger traffic through rail network is provided by Pakistan Railways. The rail transport network of Pakistan Railways with 461 locomotives has a route length of 7,791 km and plays an important role in national integration and economic growth. During July-March of the ongoing fiscal year, passenger and freight traffic was 22.5 million and 4,270 million km respectively. During same period, gross earnings of Rs 39,950.00 million were recorded as compared to Rs. 43,731.59 million during corresponding period of previous fiscal year, showing a decrease of 8.64%. During July-April FY2023, Pakistan Post recorded revenue of Rs 5,725.16 million which is far less as compared to Rs 14,433.03 million during 12 months of previous fiscal year.