Pakistan Railways deficit increases

Pakistan Railways has faced fiscal deficit amounting to Rs132 billion ($1.39 billion) during the last five years. As per statistics of fiscal deficit, Pakistan Railways facal deficit to the tune of Rs16.86 billion during the fiscal year 2007-08, Rs23 billion in 2008-09, Rs24.10 billion in 2009-10, Rs31.01 billion in 2010-11 and Rs30.37 billion in 2011-12. During the fiscal year 2012-13 the fiscal deficit is likely to touch the level of Rs5.53 billion. Railway 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. From Gulf Today