Pakistan Railway (PR) earned the highest revenue in the first half of the financial year 2023-24. PR has set a record reaching Rs 41 billion in the first half of FY2023-24 which seems impossible to break in the future. Pakistan Railway jumped from Rs 28 billion to 41 billion in revenue recorded in the last year.
It's not possible to achieve such good results without proper management and hard work. It's the outcome of the right utilization of resources at the right time, said PR management. Additionally, Aamir Baloch, CEO of Pakistan Railway (PR) highlighted that the improvements have been made to release salaries of employees in time.
Furthermore, Aamir Baloch expressed innovative policies and plans for the future, enhancing facilities and expanding services for passengers. The business in the first six months earned almost RS 25 billion only from passenger trains and Rs 12 billion from freight trains. This wonderful outcome was the result of effective plans and policies introduced by the Pakistan Railway (PR) management.
How PR Records Highest Revenue In First Half Of FY23-24?
No doubt, a good view comes after the hardest climb. Wonderful outcomes always need hard work, strategy, and proper time and employee management. PR records the highest revenue in the first half of financial year 23-24 because of hard work from PR management. The strategies, plans, and increasing facilities are the reasons behind such great achievement.
Additionally, PR raised the Right of Way (ROW) charges for a single-track in December 2023, which was crossing to Rs 3.7 million for five years. The management also decided to increase the number of passenger trains which affected greatly in boosting revenue. Moreover, PR focused on the utilization of its resources to boost profit.
- Proper Management
No organization or company can develop without having a proper management system. Good management always leads the organization to success. It's the process that assists the managers and CEOs of a company to understand day-to-day operations as well as to set goals and objectives for the future.
- Number of Trains
Pakistan Railway (PR) management decided to increase the number of trains which was a positive and valuable thought. The management increased the number of passenger trains to 96 and now PR is operating 96 passenger trains. Previously Pakistan Railway (PR) was operating 86 passenger trains.
Furthermore, PR management took a beneficial step by increasing the number of freight trains. In the previous year, PR was operating 3.8 freight trains on average. But this year the number has increased to seven freight trains. The decision to increase number of trains was also a big reason behind such improvement in revenue.
- Right Utilization of Resources
Proper management and utilization of resources in necessary to increase revenue in any organization. No organization can earn good profit without the right utilization of its resources at the right time. If an organization properly utilizes its resources then there is no need to invest huge amounts of money for boosting revenue.
Pakistan Railway management has described that a big portion of increased revenue was because of the right utilization of its resources. The management has said that 46% of revenue was the outcome of the right utilization of resources at right time. PR management elaborated that there was not any extra investment and it was not asking for support from the government.
In addition, to reduce the financial burden on public Pakistan Railways has decreased the ticket prices. This will lead to travel more for people across the country. The prices for economic class tickets have been reduced to almost 55%. The minimum price of economic class ticket from Lahore to Rawalpindi has been decreased from Rs260 to Rs100.
In addition, the CEO shared information about the initiation of the ML1 project with more innovations and improvements. The basic aim of the project will be to bring innovation to Pakistan Railway by adding more facilities and advancements. He elaborated that there will be overall efficiency and effectiveness because of ML1 project in PR.
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