ISLAMABAD: Pakistan Railways would generate more than Rs 12 billion revenue through freight trains during the current financial year.
The organization was hoping to cross the set revenue generation targets in freight sector this year, an official in the Ministry of Railways told APP. “Fast Cargo” train would also run between Karachi to Rawalpindi to help generating more revenue, he added. “Pakistan Railways had allocated around 85 to 90 locomotives for freight trains,” the official added.
He said that 55 locomotives were scheduled to arrive soon from United States and would be attached with freight trains.
Pakistan Railways during the financial year 2013-14 loaded 76,307 wagons against loading of 46,617 wagons in the corresponding period of year 2012-13, thus 29,619 more wagons were loaded in the year 2013-14, he said.
He said that the earning from freight loading during 2013-14, was Rs. 3.529 billion whereas during the corresponding period (2012-13) was Rs.1.957 billion.
The net increase in earning was Rs. 1.572 billion with growth of 80.33% in one year, he added.
The official said however, freight loading during 2014-2015 was 176,155 wagons against loading of 76,307 wagons during 2013-2014.
The earning from freight loading during 2014-2015 was Rs.8.346 billion against earning of Rs.3.529 billion during the corresponding period. The net increase in freight earning remained Rs.4.817 billion with growth of 136 per cent during year 2014-15.
Meanwhile, the induction of new locomotives, renovation and refurbishing of out of order engines and launching of cargo trains revolutionized the Pakistan Railways (PR).
Official sources in the Ministry of Railways told APP the decades of mismanagement, bad governance, corruption and lack of commitment had ruined the Railways. The positive steps not only arrested the deterioration but helped improve the efficiency of the Railways as well as enhanced the image of the national institution.
The fiscal deficit of Pakistan Railways has decreased significantly in last two years. Fiscal deficit of PR was Rs 27.247 billion during 2014-15 as comparing to Rs 32.527 billion during FY 2013-14.
Thus number of freight trains to up country was one train per day in the year 2011-12 and now has been increased to 10 trains in the year 2014-15.
They said that punctuality of passenger trains has been improved tremendously, in the year 2012 it was 10 percent which now has gone up to 72 percent.
Improvement of infrastructure has also been prioritized and doubling of track between Lahore-Karachi will be completed by December 2015.
The sources said that oil reserves which had declined to two days now had been improved to more than 12 days. It has substantially contributed in increased operational efficiency, sources said.
Train operations have been rationalized as a result operating ratio which in the year 2011-12 was 203.59 has been decreased to 132 in the year 2014-15.
The project of rehabilitation of 27 heavy locomotives was initiated in 2013-14, out of which 15 locomotives have been rolled out.
The sources said a project of special repair of 150 locomotives was undertaken in 2013-14 and would be completed in 2015-16. Out of 150 out of order locomotives, 106 have so far been rolled-out.
Another project of special repairs of 100 locomotives has been initiated in 2015, the procurement process has been started and the project would be completed by 2016-17. The process of induction of new locomotives has been started. An order for 55 horse power engines has been placed to M/s GE of United State of America. sources informed.
The sources said that 63 new locomotives have been inducted in the fleet during 2014-15. Besides, 55 state-of-art locomotives with hauling capacity of 2500 to 4500 HP will be inducted in the fleet in due course.
Expenditure has been controlled through computerization of payments of pensions, as such risk of ghost pensioners and any over payment has been eliminated.