Railways generate a record revenue of Rs88 billion in the fiscal year

The Pakistan Railways (PR) has reported a significant achievement with record revenue of Rs88 billion for the fiscal year 2023-24, marking a 40% increase compared to the previous fiscal year’s revenue of Rs63 billion. PR’s Chief Executive Officer, Amir Ahmad Baloch, attributes this growth primarily to enhanced passenger and freight services, which boosted both ticket sales and freight revenue. Specifically, freight revenue saw a notable rise from Rs18 billion to Rs28 billion during this period.

For FY 2023-24, PR surpassed its revenue target of Rs73 billion, with Rs47 billion generated from ticket sales, Rs28 billion from freight, and Rs13 billion from railway land leasing and other sources. Looking ahead to FY 2024-25, Mr. Baloch indicates a revenue target exceeding Rs100 billion, buoyed by expectations of increased income from land leases, supported by new land-use regulations facilitating investor participation.

Despite fare rationalization efforts and no fare increases during FY 2023-24, PR continues to focus on expanding its freight revenue target from Rs28 billion to Rs35 billion, aiming to enhance operational efficiency and service quality across its network. The system currently operates 98 passenger trains and approximately 60 freight trains, reflecting ongoing efforts to meet growing demand and improve service standards.

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In addition to revenue milestones, PR has prioritized service enhancements such as coach rehabilitation, new coach additions, dining car upgrades, improved food services, and upgraded passenger lounges. Recently, the introduction of air-conditioned washrooms at Lahore Railway Station underscores PR’s commitment to improving passenger comfort and amenities.

Meanwhile, Sui Northern Gas Pipelines Limited (SNGPL) has intensified efforts against gas pilferage and illegal connections, disconnecting 32 connections across Lahore, Multan, and Sahiwal. This action includes fines totaling Rs0.2 million for violations like illegal gas use and unauthorized compressor installations, reflecting ongoing regulatory efforts to curb energy losses and enforce compliance with gas usage regulations.