Islamabad: The annual losses of the country’s loss-making institutions have reached 905 billion.
The report on the financial losses of the federal state-owned enterprises states that the annual losses of the loss-making enterprises have reached 905 billion. In the financial year 2022-23, a 23 percent increase in losses has been recorded.
According to the document, the energy sector has incurred losses of 304 billion. The government has given financial assistance of 1021 billion rupees to many institutions, including energy, while 759 billion rupees have been spent on the energy sector, including distribution companies.
In 10 years, the losses of Railways, National Highway Authority (NHA) exceeded 5 thousand 595 billion.
According to the report, due to the deficit, the revolving debt has exceeded 4 thousand billion rupees. Last financial year, some government institutions also earned 703 billion in profit. As a result, the net losses came to the level of 202 billion rupees.
The document states that the book value of the assets of the government institutions was 35 thousand 218 billion rupees, while the liabilities of the government institutions increased by 20 percent to 29 thousand 721 billion rupees.
