State-Owned Enterprises' Annual Losses Exceed Rs905bn, up 23%

Karobar Karobar
Jun 26, 2024 - 00:54
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State-Owned Enterprises' Annual Losses Exceed Rs905bn, up 23%

The PML-N-led unity government has decided to get rid of financial losses in federal state-owned enterprises, as a policy statement to close non-profit departments was given by Prime Minister Shehbaz Sharif himself after a cabinet meeting.

Annual losses of state institutions (in billions) 905  
% rise in losses in FY 2022-23 23% increase
Energy sector losses 304
Government financial assistance 1021
Energy sector assistance 759
Losses of Railways and NHA in 10 years 5595
Circular debt 4000
Profit of some government institutions in last fiscal year 703
Net losses 202
Book value of government institution assets 35218
Dues of government institutions 29721
Interest on NHA debt 1100
Losses in FY 2022-23 (23 institutions) 905
NHA losses 413.45
Quetta Electric losses 88.48
Peshawar Electric losses 80.59
PIA losses 75.75
Pakistan Railways losses 48.53
Lesco losses 30.83
Sukkur Electric losses 30.66
Pakistan Steel Mills losses 25.45
Other institutions facing losses Mepco, Sui Southern, Hyderabad Electric, PTCL, Fesco, IESCO, Gencos, Post Office, PBC, Pakistan Expo, Prall, State Engineering Corporation
Profit of government enterprises (16) 703.26
OGDCL profit 224.62
Pakistan Petroleum Limited profit 97.22
Pak Arab Refinery Company profit 66.59
National Bank of Pakistan profit 53.321
Other profitable institutions Government Holdings, National Power Parks, National Shipping, Port Qasim, GEPCO, Pak Kuwait Investment, State Life, NTDC, Sui Southern, WAPDA, Tribal Electric Company