Federal Minister for Railways Khawaja Saad Rafique on Wednesday announced to cut fare of all classes of all trains of Pakistan Railways by 20 percent.
The reduction in fares will be applicable from 1st Ramazan to 20th Ramazan-ul-Mubarak, said the Minister while talking to media persons here on Wednesday after witnessing Fuel Transportation Agreement between Pakistan Railways and Pakistan State Oil (PSO).
When Pakistan Muslim League (PML-N) government took over, Railways revenue was around 18 billion in 2012-13, which would reach Rs. 41 billion by the end of current fiscal year 2016-17, the Minister added. The government would set Railways revenue target at Rs. 53 billion for next financial year 2017-18, he added.
He further said that when Pakistan Muslim League (PML-N) took over the government, Railways was paying Rs. 33 billion under the head of pay and pension, while it would pay Rs. 53 billion in the current fiscal year. He said that an increase of Rs. 20 billion has been made in pay and pension of Railways employees. He said 74 percent Railways budget go to pay and pension. Minister further said that railway police pay should be brought equal to that of provincial police.
The Minister earlier witnessed a signing ceremony of fuel transportation agreement between Pakistan Railways and Ministry of Petroleum. According to the agreement, Pakistan State Oil (PSO) will provide about two million tons of fuel to Pakistan Railways per year.
The agreement will be effective for five year and would be extendable by consultation of both sides. Railways Minister said the agreements would help increase income for Pakistan Railways and PSO will also be able to utilize its fuel continuously.
The agreement was signed by Syed Rashid Kamal, General Manager Logistics, PSO and Abdul Hameed Razi, Additional General manager Traffic , Pakistan Railways (PR).