LAHORE: The Pakistan Railways (PR) expects to achieve almost half of its Rs109 billion revenue target for the ongoing fiscal year, required to be met by end of June, 2025, by December 31, touching the figure of Rs50 billion, earning from all revenue streams—passenger, freight, land lease etc.

It hopes the situation in the next six months—January to June—may enable the country’s largest state-owned civilian organisation, in terms of number of employees, to achieve the annual target, as plans, including the upgrade of various passenger trains and launch of a new express train and some other measures are underway, Dawn has learnt.

“In the first five months of the ongoing financial year 2024-25, our total revenue earning from passenger and freight sector (land lease and some other resources not included) was recorded as Rs37.5bn till from July 1 to November 30, this year. This income was 15 percent more than Rs32.9bn earned during the last fiscal year’s first five months,” the PR Chief Executive Officer Amir Ali Baloch told Dawn on Sunday.

“During the first five months, we also saved 13.57pc in fuel expenses,” he maintained. To a question, he said since the PR income in the ongoing month of December is expected to reach Rs10 to Rs12bn, we may touch the figure of Rs50bn in the first six months of the ongoing year. To another question, he said the Rs109bn annual target for FY 2024-25 is achievable “since we have various [revenue earning] plans ahead.”

The PR had announced a record revenue of Rs88bn during the last fiscal year 2023-24, with 40pc more income compared the 2022-23, when the total revenue was Rs63.5bn.

The PR’s annual target for FY 2023-24 was Rs73bn but it earned Rs88bn, that included Rs47bn earned through sale of tickets. Moreover, the total income also includes Rs28bn from freight and Rs13bn from land lease and other revenue streams.

In 2018-19, the PR’s total income/revenue was Rs45 billion that increased to Rs48.5 billion in 2020-21 and Rs63.5 billion in 2022-23 fiscal years. The PR claims that the increase in revenue is mainly due to improvement in services related to passengers and freight.

“We have focused on improving our services by adopting the best management practices. This is why our income is increasing considerably,” the CEO said. To a question, he said a committee tasked with negotiating the scrap rates offered by the People Steel Mills for 1,360 out-of-use four-wheel goods’ wagons was expected to take a final decision in the next couple of days.

CEREMONY: Lahore Electric Supply Company (Lesco) organised on Sunday a ceremony in honour of officers and employees who demonstrated high performance.

According to a spokesman, among those who received the honourary shields include Fazal Hussain Shah, Arsalan Anjum Siddiqui, Manager Operations Tariq Bashir, Director (Headquarters) Muhammad Javed, Deputy Manager (HR) Muhammad Shafiq, Deputy Manager (Admin. and Security) Salman Haider, Deputy Manager (Material Management) Abid Khattak, Assistant Manager Asma Amin, Commercial Assistant Mahira Rashid, PA Muhammad Farooq, PA Ashfaq Hussain, PA Muhammad Kashif from the CEO Office, DCM Azam Rasool of the Customer Service Department, Assistant Manager Athar Zia, Commercial Assistant Muhammad Khalid Ali.

Meanwhile, Lesco claims to have so far detected a total of 171,676 connections where the customers were pilfering electricity in all its circles of five districts (Lahore, Sheikhupura, Nankana Sahib, Kasur and Okara) during its ongoing anti-power theft campaign launched in September, last year.

The Lesco spokesman told the media here on Sunday that the company also lodged 159,850

FIRs against power pilferers, while 45,181 accused have so far been arrested by police.

During the anti-power theft campaign, the spokesman added, large commercial consumers were also found involved in electricity theft. The severed connections included, 5,296 commercial, 1,670 agricultural, 355 industrial and 164,355 domestic. These suspects were charged detection units worth Rs6.739bn.

Published in Dawn, December 23rd, 2024