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Lalu: fuel price hike a challenge to railways
K. Balchand
NEW DELHI: Railway Minister Lalu Prasad on Tuesday admitted that rising prices of crude oil were posing a challenge to the railways.
Inaugurating an international seminar on “Emerging Technologies and Strategies for Energy Management in Railways,” Mr. Prasad underlined that the railways had refrained from hiking passenger fares and freight rates despite the increased outgo on purchase of fuel.
The situation had made it imperative for the railways to delve on methodologies to cope with the rising petroleum prices and keep the operating cost under prescribed levels.
Fuel accounted for almost 25 per cent of its expenditure and diesel formed a greater component draining out 15 per cent of the railways revenue, while the railways had to sell out 10 per cent of its money on electricity.
Mr. Prasad called for greater use of power to counter the rise in diesel prices, which had an inflationary impact on the economy forcing people to look to the railways for travelling and transporting their goods.
Savings of Rs. 4000 crore
He said that the railways had saved about Rs. 4000 crore annually through electrification of its tracks. So far, the railways have electrified 28 per cent of its routes. He said that more electric locos would be introduced in other routes also at the earliest.
Mr. Prasad was confident that the surplus generated by the railways would be a good Rs. one lakh crore by the time the term of the present United Progressive Alliance government ended next year.
Among those who addressed the seminar were Minister of State for Railways R. Velu and Chairman of Railway Board K.C. Jena.
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