Pakistan Railways (PR) has achieved a record revenue of Rs88 billion for the fiscal year 2023-24, ending on June 30, representing a 40% increase compared to the previous fiscal year’s Rs63 billion.
“The increase in revenue is mainly due to improved passenger and freight services. The number of passengers increased due to these enhancements, with no impact from fare rationalisation,” PR Chief Executive Officer Amir Ahmad Baloch says.
Baloch highlighted that freight revenue played a significant role, increasing from Rs18 billion to Rs28 billion. PR surpassed its total revenue target of Rs73 billion for FY 2023-24, earning Rs88 billion, including Rs47 billion from ticket sales, Rs28 billion from freight, and Rs13 billion from land leasing and other revenue streams.
Looking ahead, PR’s revenue target for FY 2024-25 is set to exceed Rs100 billion. Baloch expects land-lease revenue to rise by Rs10 billion, thanks to new land-use rules that have been approved to attract investors.
Baloch clarified that passenger fares were last increased in FY 2022-23, with no further hikes in FY 2023-24. PR aims to boost its freight revenue from Rs28 billion to Rs35 billion and is optimistic about reaching this goal.
The current system includes 98 passenger trains (up/down) and approximately 60 freight trains (up/down). Service improvements include the rehabilitation of passenger coaches, the addition of new coaches, upgraded dining cars, standard food service, reasonable fares, and enhanced passenger lounges. Additionally, air-conditioned washrooms have recently been opened at Lahore Railway Station.
