In the fiscal year 2023-24, Pakistan Railways achieved significant revenue growth, earning PKR 47.7 billion from its passenger services, according to a report presented in the National Assembly. This milestone reflects a notable increase in passenger traffic, with 41.9 million travelers utilizing the railway’s services, marking a growth of 6.5 million passengers compared to the previous year’s 35.4 million.
Overall, Pakistan Railways generated a total revenue of PKR 87.5 billion in the fiscal year. Passenger services contributed the largest share, while the freight segment added PKR 27.8 billion, demonstrating the railway’s critical role in both passenger and cargo transportation. Additional income sources included PKR 1.33 billion from military transport and PKR 4.3 billion from property and land-related revenues.
The report highlighted a decline in revenue from scrap sales, which dropped by PKR 2.2 billion, falling from PKR 4.55 billion in 2022-23 to PKR 2.35 billion in 2023-24. Despite this reduction, the overall revenue saw a significant boost, driven by increased passenger traffic and steady contributions from freight and property earnings.
The rise in passenger numbers underscores the growing public reliance on Pakistan Railways, attributed to efforts to improve services and attract more users. This positive trend, coupled with steady freight and property income, highlights the potential for further financial improvement and diversification in revenue streams.
While challenges like the decline in scrap sales remain, the overall performance reflects a promising future for Pakistan Railways as it continues to play a vital role in the country’s transportation network. For more updates on national infrastructure and economic developments, visit PakCircle.
