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Downfall: Pakistan Railways suffers another loss-making year
- Updated: August 11, 2016
This year, Railways did not call a grave press discussion to announce a results. However, a government common usually a income generating details, and avoided pity a operative waste territory details. PHOTO: ONLINE
LAHORE: Financial weight on state-owned entities never ceases to stop.
In a latest development, Pakistan Railways’ (PR) waste surpassed a towering Rs28 billion, augmenting around 12.64% in mercantile year 2015-16, amid steady statements of a turnaround being targeted for a bum entity.
The house managed sum gain of Rs35.97 billion during 2015-16, an boost from a Rs31.92 billion available in a analogous duration of a prior year. However, a waste increasing to Rs64.23 billion in 2015-16 opposite Rs57.03 billion in 2014-15, according to papers sent to a Ministry of Railways from a bureau of a financial confidant and Chief Executive Officer, Pakistan Railways.
The sum necessity for PR for 2015-16 amounted to around Rs28.3 billion, though a administration has not enclosed seductiveness and repayments of unfamiliar loans on collateral and deputy accounts figures, that means a necessity could boost further.
This year, Railways did not call a grave press discussion to announce a results. However, a government common usually a income generating details, and avoided pity a operative waste territory details, that shows a loyal design of financials, opposite a high claims of a management.
Interestingly, handling waste showed a drop of 3%. They reduced to Rs18.28 billion in 2015-16 from Rs18.77 billion in 2014-15.
The minute pronounced that railways waste underneath ‘Other Revenue Expenditures’ head, has increasing to Rs21.54 billion in 2015-16 from Rs16.83 billion in 2014-15, a arise of 28%.
Similarly a ubiquitous administration waste have also increasing 18% to Rs8.63 billion in 2015-16 from Rs7.28 billion in a analogous duration of a prior year.
Earnings
On a income side, sum newcomer gain for 2015-16 stood during Rs20.39 billion, adult 17% than analogous years gain of Rs17.45 billion.
Railways warranted Rs10.59 billion by travel of products around a weight operations in mercantile year 2015-16. These gain are roughly 28% aloft than a analogous year gain of Rs8.25 billion.
However a various section, that includes railways commercial, marketing, land and skill department, has seen a disastrous expansion of roughly 40%. The gain have reduced to Rs2.59 billion in 2015-16 from Rs4.3 billion in 2014-15.
Increasing waste of state-owned entities has put a large weight on a inhabitant exchequer where bailouts are apropos some-more and some-more frequent, most to a dismay of taxpayers.
Published in The Express Tribune, Aug 12th, 2016.
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