ISLAMABAD: The Ministry of Finance has released a report revealing that the combined losses of over 15 state-owned enterprises(SOEs) have exceeded Rs59 trillion, posing serious concerns over the financial health of public institutions.
According to the report, during the first six months of the previous fiscal year, the deficit surged by Rs3.45 trillion. Additionally, pension-related liabilities have also mounted, reaching Rs17 trillion.
The Ministry of Finance has revealed that among the loss-making state-owned entities, the National Highways Authority (NHA) has incurred the highest deficit, amounting to a staggering Rs1,953 trillion.
According to the report, the Quetta Electric Supply Company (QESCO) ranks second with losses of Rs770.6 trillion, followed by the Peshawar Electric Supply Company (PESCO) with a deficit of Rs684.9 billion.
The report also highlights that the financial performance of electric distribution companies (DISCOs) continues to deteriorate, with losses steadily increasing over the past six months.
The Finance Ministry’s latest report paints a grim picture of the country’s public financial management, revealing that circular debt has reached Rs4.9 trillion, with the power sector accounting for Rs2.4 trillion of the total.
The report also highlights that the National Highways Authority (NHA) incurred a loss of Rs153.27 billion during the six-month period from June to December 2024.
The Ministry of Finance has released a detailed report outlining the growing financial burden of several key state-owned enterprises (SOEs), with billions lost in just six months.
According to the report: Quetta Electric Supply Company (QESCO) recorded a six-month loss of Rs58.10 billion and Sukkur Electric Power Company (SEPCO) posted a loss of Rs29.60 billion during the same period.
The combined losses of power distribution companies amounted to Rs472.99 billion.
The report further reveals: Pakistan Steel Mills suffered a six-month loss of Rs15.60 billion, taking its cumulative losses to Rs255.82 billion. Pakistan Telecommunication Company Limited (PTCL) recorded a loss of Rs7.19 billion in six months, with total losses reaching Rs43.57 billion.
Pakistan Agricultural Storage and Services Corporation (PASSCO) reported a loss of Rs7 billion over six months, pushing its overall losses to Rs11.13 billion.
These findings underscore the urgent need for structural reforms and efficiency improvements in Pakistan’s state-run enterprises, which continue to place immense strain on the national economy.
