WHILE Pakistan Railways may apparently be in dire financial straits, it so happens that it is still one of the richest government departments in the country. Apart from tracks and vehicles, it owns vast real estate and land of immense value that is spread over 167,690 acres. Besides service buildings, stations, workshops and staff residencies meant for operational and other services, Pakistan Railways has non-functional land and structures as well.

Consequent upon development and modification of British era projects, the property worth billions has been left abandoned as redundant warehouses, sheds, stations and building ruins. Occasionally some steps are taken to resurrect as well as manage the concealed treasure, but nothing concrete has been done thus far.

Proper utilisation of the current value of this non-functional and discarded property can bring prosperity to Pakistan Railways. In case that is not done, things are bound to be tricky and complicated for the department. Long-term lease proceeds of only a few specific units in major cities like Lahore, Rawalpindi and Karachi, will be sufficient for setting a lifelong pension fund for the entire lot of pensioners. Besides, this will provide net omission and deletion of expense amounting to Rs50 billion per year from the government exchequer.

Undoubtedly, Pakistan Railways can still be turned into a seriously profitable entity if those at the helm of its affairs ensure timely utilisation of all its resources, and translate its high growth potential into sustainable development.

Tahir Iqbal
Lahore

Published in Dawn, July 27th, 2024