Pakistan Railway to bear 4 billion loss in current year: Railway Minister
Shares
ISLAMABAD: Federal Minister for Pakistan Railways Khawaja Saad Rafique said that feasibility report has been prepared to double railway line while Railways would have to bear loss of Rs. 4 billion in current year.
As per details, National Assembly Standing Committee for Railways meeting was held here at today under the chairmanship of Fatah Muhammad Hassani. Minister Railway Saad Rafique said that Railway land could not be given to KPK for Mass Transit Project while we would decide to give land on lease after the finalization of design.
Taking about the scrap of Pakistan Railways, Khwaja Saad Rafique informed committee that Pakistan Railways has over Rs. 1 billion worth scrap while market price of scrap has reduced from Rs. 10 to 15 and Railways would have to bear loss of 55 crore if scrap sale on market value.
Railways would have to bear financial loss due to reduction in market value of scrape and payment to pensioners, Saad Rafique elaborated stating that there are difficulties to achieve target of reduction in Railways deficit due to financial issues.
