Islamabad: State-owned enterprises incurred losses of Rs 147 billion in 6 months, while Rs 5,900 billion in 9 years have been revealed.
According to the half-yearly performance report of federal state-owned government enterprises, a total loss of Rs 147 billion has been revealed during the second half of last year (July to December 2023), while the losses of these state-owned enterprises from 2014 to 2023 have reached Rs 5,900 billion.
The report states that the government has provided financial assistance of Rs 436 billion in 6 months to control the deficit.
According to the half-yearly report, SOEs earned a profit of Rs 510 billion in 6 months, an increase of 45 percent. This includes a profit of Rs 249 billion from the institutions included in the Pakistan Sovereign Wealth Fund. During the period under review, OGDCL earned the highest profit of Rs 113.2 billion.
Similarly, PPL made a profit of Rs 68.7 billion, National Power Parks Management made a profit of Rs 36.2 billion, while other profit-making institutions include PARCO, Government Holdings, and National Bank.
In the first six months, loss-making institutions incurred losses of Rs 408 billion. NHA lost Rs 151.3 billion, Quetta Electric Company lost Rs 56.2 billion, and PIA lost Rs 51.7 billion.
According to officials, Peshawar Electric Supply Company lost Rs 39 billion, Pakistan Railways lost Rs 23.6 billion, Sukkur Electric Power Company lost Rs 20.9 billion, Steel Mills lost Rs 14.4 billion, and IESCO lost Rs 12.1 billion.
From July to December 2023, government institutions paid Rs 200 billion in taxes, an increase of 14 percent.
