Summary Pakistan Railways has faced fiscal deficit amounting to Rs 132 billion during the last five years.
As per statistics of fiscal deficit, Pakistan Railways had to face fiscal deficit to the tune of Rs 16.86 billion during the fiscal year 2007-08, Rs 23 billion in 2008-09, Rs 24.10 billion in 2009-10, Rs 31.01 billion in 2010-11 and Rs 30.37 billion in 2011-12.
During the fiscal year 2012-13 the fiscal deficit is likely to touch the level of Rs5.53 billion.
Railways ministry has claimed several steps have been taken to overcome fiscal deficit. As many as 4 Chinese loans and payment of interest cases have been transferred to economic division from 2011-12 till now.
Railways ministry has asked finance division to approach SBP to seek extension in payment date of interest on overdraft from October, 2011 to June 2013.
All the unnecessary expenses have been done away with in railway while the transport facility in respect of senior officers of Pakistan Railway has been changed into payment of cash mode.
