Khawaja Saad Rafique, Federal Minister for Railways, on Wednesday announced to cut the fares by 20% during Ramazan. This include all classes of all trains. The drop in prices will be effective from 1st to 20th Ramazan, said the minister while talking to the media after witnessing the signing ceremony of Fuel Transportation Agreement between Pakistan State Oil (PSO) and Pakistan Railways.
The minister said that Pakistan Railways generated around PKR 18 billion in revenue during 2012-13. This figure will reach up to PKR 41 billion by the end of the current fiscal year. Furthermore, the current regime will set revenue target of Pakistan Railways at PKR 53 billion for the next fiscal year.
Pakistan Railways Budget
Since Pakistan Muslim League government has come in to ruling, Pakistan Railway are paying PKR 33 billion under the head of pay and pension, while it would pay almost PKR 53 billion in the current financial year. He said that an increase of PKR 20 billion has been made in pension and pay of the employees. He also said that 74% of the Railways budget goes directly to the employees’ pay and pension.
Earlier, the minister attended a signing ceremony of fuel transportation agreement between PSO and Pakistan Railways. As per the agreement, PSO will offer two million tons of fuel to Pakistan Railways every year. The agreement will be effective for the next five years. Rafique said that the agreement will help in increasing the income of Pakistan Railways, whereas PSO will be able to utilize its fuel efficiently.