Wednesday, June 29, 2022

Goyal discusses Railway freight operations with coal, power PSU CMDs

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  • The minister called for coordinated operations among Railways, coal and power entities to ensure maximum mutual growth

  • An increase in coal loading will have a significant positive impact on railways freight revenues as coal accounts for 50% of the freight of Railways

New Delhi: Union Minister of Railways Piyush Goyal has held a meeting with the top leadership of the coal and power sector on Monday to ensure the consolidation of coal business of the Railways and suggest ways and means to further improve the joint operational productivity of Railways, coal and power sector concerning coal freight. Coal accounts for almost 50 percent of the freight of Railways. Last year, the total loading stood at 587 Million Tonnes out of total freight of 1,210 MT.

Speaking on the occasion, Goyal said that the Railways has been making relentless efforts in the field of boosting freight loading and there was no scope of any slippages on any front. The minister called for coordinated operations among Railways, coal and power entities to ensure maximum mutual growth of all the three sectors. The meeting was attended by Secretaries of the Ministry of Coal and Power and Chairman & CEO of Railway Board, heads of CIL, NTPC, SCCL, MCL, SECL, CCL, NCL, WCL,ECL, BCCL, NEC and SCCL.

Railways increased freight revenue in Sep by 13.54% y-o-y

In a remarkable turnaround, in September, the Railways earned Rs 9,896.86 crore from freight loading, which was Rs 1,180.57 crore higher when compared to the last year’s earnings for the same period (Rs 8,716.29 crore). The increase in freight revenue is 13.54 percent. There is a great a potential to further enhance the loading of coal. An increase in coal loading will have a significant positive impact on railways freight revenues.

ALSO READ: WCL to double coal dispatch to 50 rakes per day from Jan 2021

The Railways is now going all out to overtake the last year’s figures on a cumulative basis despite Covid-related challenges and long lockdowns. Freight loading in September was 15.3 percent more than the last year for the same month.

Focused policy initiatives during Corona crisis have ensured growth: Railways

A slew of efforts, like more than 25 policy initiatives focussed on formation of Business Development Units at zonal levels, running both specialised parcel and Kisan trains and better all-round monitoring has ensured the growth, said the Ministry of Railways in a statement.

A number of concessions, discounts are also being offered by the Railways to make Railways freight movement attractive.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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