Railways back on track, earns profit

[Edevelop]

PR registers over Rs 6 billion extra revenue likely to mount Rs7 billion in coming days

LAHORE - Pakistan Railways Minister Khawaja Saad Rafique has fulfilled his promise and made the department a profitable organization within a given span of time.
These views were expressed by Pakistan Railways Prem Union Senior Vice President Sheikh Muhammad Anwar while talking to the media here.
He said the minister's hectic efforts were now bearing fruits and the department had shown over Rs 6 billion extra revenue generation, adding that at the year-end it was likely to mount Rs 7 billion.
He said the current fiscal year would prove to be the highest revenue earning year for the Pakistan Railways as it would likely to fetch more than Rs 28 billion during 2014-15, he added.
He said earlier corruption and mismanagement had driven the Pakistan Railways towards ruin as freight trains were also suspended across the country while half of passengers trains had been off track but steps of the minister had put it on a right track of profit.
He said the energetic minister had introduced restructuring and transparent mechanism in every field of the department and promoted honest officials to make it a financially sound entity.
He congratulated the minister for inaugurating nine new loco-motives imported from China and put them on tracks and hoped that more locomotives scheduled to be arrived within few days in Pakistan would also help Pakistan Railways to restart suspended profitable routes and ensure timely arrival and departure of passenger trains, he added.

Railways back on track, earns profit

 

[defence_analyst]

ANP the corrupt party along side PPP looted Pakistan in 5 years.

 

[Yasir Altaf]

That is really good to see that something at last is done for public at large.
Now PR should also modernise its systems and infrastructure.
For last few years fares surged very quickly.
Bring them back to affordable level.
Thumbs up for PR Minister

 

[arushbhai]

Everything is on right track even though the government is occupied with so many problems that if they are solved, Pakistan will experience peace and stability

1) Musharaf case, its still hanging due to military's ego. Military needs to set its ego aside and decide whats dear to them? Pakistan or a Traitor
2) Power issue, if all the provinces start abiding by the law and pay their outstanding dues, itll bring a huge change
3) Zani khans immaturity, if only zani grows up and actually works for the betterment of KPK, he will not only do Pakistan a huge favor, but he will also win more seats in future. People want to see work, and so far he has done absolutely nothing besides threatening to protest and being a Haddi.

 

[Yasir Altaf]

Everything is on right track ?
It looks a very optimistic statement.
Who is traitor and who is loyal to this country, people know it very well now.
If i start telling what this stupid so called democratic govt has done so far , it will take long.
So stick to topic and do start a new one.

 

[veekysingh]

Ok technical question. WHere does it says that railway earned profit? All i read was that railway got extra revenue but higher revenue does not mean profit.
Second , do u guys hv any data that how much investment has been made in Pakistan railway so we can get more clear picture of how really railway is doing and minister not just making non sense statement.

 

[ziaulislam]

PR registers over Rs 6 billion extra revenue likely to mount Rs7 billion in coming days

LAHORE - Pakistan Railways Minister Khawaja Saad Rafique has fulfilled his promise and made the department a profitable organization within a given span of time.
These views were expressed by Pakistan Railways Prem Union Senior Vice President Sheikh Muhammad Anwar while talking to the media here.
He said the minister's hectic efforts were now bearing fruits and the department had shown over Rs 6 billion extra revenue generation, adding that at the year-end it was likely to mount Rs 7 billion.
He said the current fiscal year would prove to be the highest revenue earning year for the Pakistan Railways as it would likely to fetch more than Rs 28 billion during 2014-15, he added.
He said earlier corruption and mismanagement had driven the Pakistan Railways towards ruin as freight trains were also suspended across the country while half of passengers trains had been off track but steps of the minister had put it on a right track of profit.
He said the energetic minister had introduced restructuring and transparent mechanism in every field of the department and promoted honest officials to make it a financially sound entity.
He congratulated the minister for inaugurating nine new loco-motives imported from China and put them on tracks and hoped that more locomotives scheduled to be arrived within few days in Pakistan would also help Pakistan Railways to restart suspended profitable routes and ensure timely arrival and departure of passenger trains, he added.

Railways back on track, earns profit

railway had losses of over 30 billion last year, i don't think it will make profit . the news doesnt mention anywhere about profit making. if the expenditures remain same and dos fetch additional 28 billion rupees the margin of loss willl narrow but it will still make a net loss.
there is difference between increase revenue and profit.
although a good thing it still doesnt equate to profit

 

[Edevelop]

Ok technical question. WHere does it says that railway earned profit? All i read was that railway got extra revenue but higher revenue does not mean profit.
Second , do u guys hv any data that how much investment has been made in Pakistan railway so we can get more clear picture of how really railway is doing and minister not just making non sense statement.

railway had losses of over 30 billion last year(88 billion revenue;108 billion expenditure), i don't think it will make profit . the news doesnt mention anywhere about profit making. if the expenditures remain same and dos fetch additional 28 billion rupees the margin of loss willl narrow but it will still make a net loss.
there is difference between increase revenue and profit.
although a good thing it still doesnt equate to profit

Profit as compared to last year's last fiscal quarter.

 

[ziaulislam]

Profit as compared to last year's last fiscal quarter.

nope, you are mis understanding what he is saying. its being said that revenue increased by 28 billion..thats not profit but increase in revenue. profit= revenue-expenditures

last year performance.
Epaper | 31 March 2014 | Back Page Daily Aaj

 

[Edevelop]

nope, you are mis understanding what he is saying. its being said that revenue increased by 28 billion..thats not profit but increase in revenue. profit= revenue-expenditures

last year performance.
Epaper | 31 March 2014 | Back Page Daily Aaj

28 billion is 'expected in 2014-2015'. (We are not there yet.)

 

[nana41]

Everything is on right track even though the government is occupied with so many problems that if they are solved, Pakistan will experience peace and stability

1) Musharaf case, its still hanging due to military's ego. Military needs to set its ego aside and decide whats dear to them? Pakistan or a Traitor
2) Power issue, if all the provinces start abiding by the law and pay their outstanding dues, itll bring a huge change
3) Zani khans immaturity, if only zani grows up and actually works for the betterment of KPK, he will not only do Pakistan a huge favor, but he will also win more seats in future. People want to see work, and so far he has done absolutely nothing besides threatening to protest and being a Haddi.

CAN YOU SHOW YOUR CERTIFICATE OF BEING A MUTTAQEE, PLEASE?

 

[ziaulislam]

28 billion is 'expected in 2014-2015'. (We are not there yet.)

well let see than. it will be an incredible news if its true

Pakistan Railways (revenue) Rs 11.39 billion in the first half of the current financial year 2013-14 against Rs 8.47 billion during the same period of last year by increasing the number of locomotives and freight trains, it is learnt. According to the official documents, PR earned Rs 2.91 billion extra during this period as compared to the preceding year.

Official attributed the increase in Railway revenue to the increase in the number of locomotives, freight trains and trains' punctuality. Before the new government came into power, there were 465 locomotives of which 139 were in operational condition, however now there are 196 locomotives operational.

Freight train was the main source of income and therefore the government was focusing on increasing the number of freight trains, official said, adding that earlier only one freight train per day was operating from Karachi, however the number had now increased to four per day and in some days to five which had resulted in revenue of over Rs 15 million per day.

Official further said after June 2013, train punctuality had been enhanced by 50 percent, which was a big achievement and accounts for higher business. According to the documents, PR earned Rs 8.4 billion from passengers in the first half of the current year against Rs 7.01 billion during the same period of last year, showing an increase of Rs 1.38 billion, despite a decrease of upto 57 percent in train fares. Further, Rs 1.71 billion was earned from goods against Rs 657 million with an increase of Rs 1.05 billion during this period. Besides this, the PR earned Rs 1.28 billion from sundries during the first half of current year against Rs 801 million during the same period of last fiscal year thus registering an increase of Rs 474 million.
The government has set losses target for PR at Rs 33.5 billion for 2013-14 against Rs 29 billion for same period of last year, however due to the improving conditions, it is expected that Railways losses would be capped at less than the previous year, officials added. Sources further said that PR revenue stood at Rs 18 billion, however for the current fiscal year the revenue target is set at Rs 21.6 billion, while the high-ups expect that it could even round about Rs 25 billion

Railways earns Rs 11.39 billion in first half fiscal year 2014 | Business Recorder


we should not mix words like earning,revenue and profits.....
earning is ambiguous word..while revenues and profit have clear cut meaning.
earning is usually used in meaning of revenue

what i undertsand from the post is that this earning means revenue not profits..if you research a little you wil come to same conclusion too. you can read the above article its dated jan 2014

 

[ziaulislam]

28 billion is 'expected in 2014-2015'. (We are not there yet.)

the same news in business recorder will clear what i mean


Nine new locomotives induction to help increase Railways revenue
ISLAMABAD: The revenues of Pakistan Railways would significantly increase after induction of nine new locomotives, recently delivered by China out of 58 to its fleet.

The nine locomotives, each having 3,000 horse power, were unloaded at Karachi Port. These would be inducted into the system after initial tests and used for operation of freight trains, an official of Pakistan Railways told APP.

After many years new locomotives are being inducted into the system as they are the lifeline for the Pakistan Railways, the official added.

So far nine locomotives had reached Pakistan from China and the remaining locomotives would be supplied by the manufacturers by the end of the current year.

He said that a team of 50 Railways officials had been sent to China for getting training to operate and maintain these locomotives who will also serve as the master-trainers to guide other staff.

At present Pakistan Railway is operating, on an average, three to four freight trains on daily basis and their frequency is likely to increase with the induction of the new locomotives, he added.

He said that Karachi Railway Division operated 100 freight trains during the month of March, after a halt of freight operation for three years when it came to stand still due to non-availability of locomotives, resulting in a big revenue loss to the railways.

Each freight train is generating a revenue of Rs 2.5 to 3 million and according to sources the Karachi Railway Division earned a revenue of Rs 300 million during March 2014, he said.

The official said that department has the demand and the capacity to carry freight with availability of wagons and arrival of new locomotives into the system will certainly boost freight operation resulting in further increase in the revenue.

The proactive measures in Pakistan Railways are bearing fruits as its revenue streams have registered a significant increase from 2013 to 2014 and department managed to earn Rs15.968 billion.

The revenue streams of the department were Rs11.497 billion as compared with the same period of corresponding year, thus registering an increase of 39 per cent which is Rs4.470 billion.
Railways earns Rs 11.39 billion in first half fiscal year 2014 | Business Recorder

so for this quarter he revenue showed an increase of 4 billion rupees only from the last

so railway is still doing losses however there is a great chance that with new engines it will make profit soon as each cargo trip fetches alot

 

[AZADPAKISTAN2009]

Well railways is not in profits , its making less "Losses" and now has freight service only

• What Railways need is $200 Million dollar USD , for purchasing 150 Locomotives from USA

No none sense , wait time , no time wasting court cases, and no akhbar bazi ....simple processs

Nawaz Sharif writes a cheque of $200 Million dollars , gives it to Finance Minister , and the Minster orders the Locomotives Directly from USA , with a travel visit of $1200 USD return ticket to usa economy class.

And the Locomotives are shipped by Pakistan Shipping free of charge

Pakistan can also apply for Economic Package from US to cover the $200 Million under the economic help concession instead of Military Aid

40 Locomotives for Freight Service
70 Locomotives for Train Services (Interstate)
10 Locomotives (Circular Railway Karachi)
10 Locomotives (Circular Railway Lahore)
10 Locomtotives (Pakistan - Afghanistan Trade Route)
10 Locomotives (Military Usage)

Fix the Damn whole railway for $200 Million 1 time cost

Instant Boost of Profits by 600% after these additions

Why Don't Nawaz Sharif , use that 1.5 Bollion dollars and use just $200 Million and fix a institue that will generate Millions instantly

 

[Pakistanisage]

That is good news but there still remains some unfinished business. The former Railway Minister under Zardari Government Ghulam Ahmad Bilour should be hanged for his Criminal activities regarding Pakistan Railways.....