About 120 trains to be closed within two years

LAHORE: After talks with Pakistan Railway officials on Wednesday, the Parliament Standing Committee for Railways approved the closure of 120 trains within two years.

The trains will be closed in sequence as 102 of the trains were facing complete fiscal losses.

In a news briefing in Lahore, the Head of the Railways Standing Committee, Ayaz Sadiq, and General Manager Railways, Ashfaque Khattak said that resources from the halted trains will be transfered to cargo trains, which deliver oil to IPPs.

“Forty trains are giving profit of Rs.9 billion whereas more than 100 trains will be closed because of annual loss of Rs. 10 billion.”

Sadiq also urged the government to waive its debts because Pakistan Railways was facing debts worth Rs.50 billion.

Khattak also said that the railways had shipment for 26 cargo trains and Rs.17 billion could be earned but due to shortage of engines it was not possible to do so. – DawnNews

July 28, 2010 Post Under News update - Read More

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