RailCop earns Rs431mn in one year

LAHORE: The Pakistan Railways sub company, RailCop, earned Rs 431 million in one year instead of Rs 23 million per annum as pure profit after deduction of taxes.

It was disclosed in the 38th annual meeting of the RailCop, chaired by Chairman Railways M Javaid Anwar held at the PR headquarters on Monday.

The meeting was informed that the company earned collectively Rs 1.33 billion in 32 years from its constitution in 1980 to 2012-13 while it earned the same amount in five years, from 2012-13 to 2017-18.

The meeting was told that net worth of the company had been increased from Rs 2.5 billion to Rs 3 billion.

RailCop Managing Director Amir Nisar Ch presented the report in the meeting on which the chairman appreciated the MD and the staff of the company.

The MD said that the company had been working on 15 projects and Pakistan Stock Exchange had offered to register the company with the exchange.

The company's Board of Directors approved one million rupees as dividend for the railways.