Pakistan Railways paying pension to unverified employees
ISLAMABAD: The Pakistan Institute of Development Economics (PIDE), a state-owned think tank associated with the Planning Commission, has discovered that 115,000 unverified retired Pakistan Railways personnel are receiving Rs35 billion in yearly pension.
PIDE stated in a statement published on Sunday. Their investigation found that railway losses totaled Rs144 billion between 2015 and 2020. The PIDE research suggested substantial institutional reforms at Pakistan Railways. It is now one of the country's top 10 loss-making state-owned companies.
The losses included an Rs44 billion shortfall in 2020. As well as an Rs36 billion pension burden on Railways for 120,000 workers. The government paid an Rs45 billion subsidy to overcome the shortfall and pension liabiliti...