The Oil Companies Advisory Committee (OCAC) has raised the oil prices in the range of Rs 0.95 to Rs 2.73 per liter effective from February 2, because of rising crude oil prices.
Sources in the PR told this scribe that the ministry would have to face extra financial burden if it does not take prompt step. "Pakistan Railways always makes best efforts to facilitate the people but the fare hike is a compulsion to meet financial requirements," they added.
As a result, freight charges are also expected to be raised in step with the fare hike.
It is worth mentioning that the government had already increased train fares by 5 percent in December last year due to hike in fuel prices. On the other hand, it was also announced to convert Pakistan Railways into a state corporation by July 1 to overcome its losses.
Another increase in fares in just two months will be received with much dismay by the travellers and will have negative impact on overall business activities of the Railways.