ISLAMABAD - Pakistan Railways has managed to control its losses, which had reached Rs26.993 billion in 2015-16, through passengers friendly policies.

“Yes it is a fact that Pakistan Railways has controlled its losses during the last three years and as per data these are decreasing with each passing year,” sources said on Monday.

“During 2013 14, the losses were Rs32.527 billion, in 2014 15 they stood at Rs27.247 billion and now due to  strategies introduced by Minister for Railways, the losses came down to Rs26.993 billion during 2015 16,” sources added. Citing the steps taken by the government to control the losses of PR, they further said that competitive freight rates had been introduced to diversify traffic from road to rail.

“Preference is being given to block train load freight trains,” the sources said and added Freight Deposit Account (FDA) based agreements had been executed with long lead bulk importers such as Maple Leaf cement Factory etc.

“At present, at average 10, freight trains are being operated. Availability of locomotives in freight pool has been improved from 45 to 75 locomotives and all-out efforts are being made to increase the share of freight earning by giving preference to highly rated commodity like POL.