LAHORE: Federal Minister for Railways Khawaja Saad Rafique Saturday said that foreign investment would have to be secured to increase Pakistan Railways’ revenue.
The federal minister was speaking during the inauguration ceremony of new coaches for the Khyber Mail in Rawalpindi Saturday.
Rafique said that Pakistan Railways’ income was Rs 18b while its losses exceeded Rs 30b. He said that by the end of this year, railways would earn Rs 50b while its losses would amount to Rs 35b.
“Losses will increase only by Rs 3b while our revenue would increase by Rs 18b,” he said. He said that the only solution to decreasing losses was to increase Pakistan Railways’ revenue. For that to happen, Rafique said that it was important to bring foreign investment.
In response to a question, Saad Rafique said that he did not want to comment on every decision given by the Supreme Court of Pakistan.
The minister said the addition of new coaches is part of a up gradation program of Pakistan Railways initiated by the incumbent government. He said more coaches will be added to trains next month.
The minister said the PML (N) government has been working to improve Pakistan Railways since its inception.
Rafique said railways revenue has risen up to Rs 50b which is a major achievement.— NNI