July 25, 2014 5:08 PM ET

Road and Rail

Company Overview of Pakistan Railways

Company Overview

Pakistan Railways operates as a railway company in Pakistan. It provides transportation services for business, sight seeing, pilgrimage, and education. The company was founded in 1947 and is headquartered in Lahore, Pakistan.

Headquarters Office

Empress Road

Lahore,  

Pakistan

Founded in 1947

Phone:

92 42 920 1753

Fax:

92 42 920 1760

Key Executives for Pakistan Railways

General Manager of Operations
Additional General Manager of Freight
Compensation as of Fiscal Year 2014.

Pakistan Railways Key Developments

Update On Pakistan International Airlines Privatization

The Senate Standing Committee on Planning and Development opposed the privatization of Pakistan International Airlines Corporation (KASE:PIAA) and recommended that the government take financial and administrative measures to rehabilitate and revive the airline. Government has assured International Monetary Fund (IMF) that finance advisors would be appointed in Pakistan International Airlines (PIA), Pakistan Steel Mills Corporation (PVT) LTD. and Pakistan Railways (PR) till end of March 2014. It is being said that these advisors would give recommendations for revival of these institutions and government would make key decisions regarding privatization of these institutes in light of recommendations being given by appointed advisors.

Pakistan's Cabinet Committee Clears Privatization Plan For 31 Companies

The government decided in the Cabinet Committee on Privatization to direct the Privatisation Commission to immediately initiate the process for sale of 31 public sector entities (PSEs) through initial and secondary public offering and transfer of 26% along with management control, to the private sector. The statement said, "After thorough deliberations, the committee agreed to initiate the process of privatization and directed the commission to ensure that the interests of employees were to be protected at all cost. Most of the PSEs will be offered to the private sector through strategic divestment, including up to 26% stakes along with management control, while shares of other companies will be offloaded through public offering." The companies include Pakistan Petroleum Ltd. (KASE:PPL), Pak Arab Refinery Limited, Pakistan State Oil Company Limited (KASE:PSO), Sui Southern Gas Co., Ltd. (KASE:SSGC), Sui Northern Gas Pipelines Ltd. (KASE:SNGP), Pakistan International Airlines Corporation (KASE:PIAA), Pakistan Railways, Gujranwala Electric Supply Company Limited, Lahore Electric Supply Company Limited, Islamabad Electric Supply Company Limited, Faisalabad Electric Supply Company Limited, National Power Construction Corporation (Pvt) Limited, Pakistan National Shipping Corp. (KASE:PNSC), Pakistan Steel Mills Corporation (Pvt.) Ltd., Roosevelt Hotel Corporation NV, Oil and Gas Development Co., Ltd. (KASE:OGDC) and Northern Power Generation Company Limited.

CCoP To Announce New Menu Of Privatization

The current PPP government decided to take Pakistan Steel Mills and PIA off the privatization. The Cabinet Committee on Privatization (CCoP) approved a new menu of privatization based on public private partnership (PPP) with transfer of management control and 26% shares of 21 state owned enterprises (SOEs).The new policy also envisages transfer of 12% shares of all SOEs to the workers of these entities. CCoP has not fixed any timelines or targets for the completion of privatization process of the said SOEs and these would be taken to market when feasible. According to the Minister for Privatization, CCoP has approved privatization of four electric supply companies Faisalabad Electric Supply Company Limited, Quetta Electric Supply Company Ltd., Hyderabad Electric Supply Company Ltd. and Peshawar Electric Supply Company Limited. Besides, National Insurance Company Limited, Pakistan Reinsurance Company Ltd. (KASE:PAKRI) and State Life Insurance Corporation of Pakistan Ltd will also be privatized. The approval has also been granted to the privatization of SME Bank Ltd., National Power Construction Corporation (Pvt) Limited, Pakistan Railways, Heavy Electrical Complex (Pvt.) Ltd., Pakistan Machine Tool Factory (Pvt) Ltd., The Pakistan Tourism Development Corporation, Utility Stores Corporation of Pakistan, Pakistan Post Office Department and Kot Addu Power Co. Ltd. (KASE:KAPCO). Similarly, Privatization of Pakistan Post would be based on PPP model and this important organization would be converted into a Post Office Bank after privatization. The Cabinet Committee on Privatization (CCoP) approved leasing out of Thermal Power Stations of Jamshoro Power Company Limited.

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