Islamabad:
A loss of 147 billion rupees in 6 months and 5900 billion rupees in 9 years has been revealed on behalf of state-owned enterprises.
According to the semi-annual performance report of the federal state-owned government institutions, a total of 147 billion rupees losses have been revealed during the second half of last year (July to December 2023), while the state-owned institutions’ losses from 2014 to 2023. The losses have reached 5900 billion rupees.
The report states that the government has provided financial assistance of 436 billion rupees in 6 months to control the deficit.
According to the half-yearly report, in 6 months, SOs earned 510 billion profit with an increase of 45%. 249 billion profit of the institutions included in the Pakistan Sovereign Wealth Fund is included. OGDCL earned the highest profit of 113.2 billion during the period under review.
Similarly PPL 68.7 billion, the profit of National Power Parks Management was Rs 36.2 billion while other profitable institutions include PARCO, Government Holdings, National Bank.
In 6 months, loss-making institutions incurred losses of 408 billion rupees. NHA 151.3 billion, Quetta Electric Company 56.2 billion and PIA lost 51.7 billion.
According to officials, Peshawar Electric Supply Company lost Rs 39 billion, Pakistan Railways Rs 23.6 billion, Sukkur Electric Power Company Rs 20.9 billion, Steel Mills Rs 14.4 billion, ISCO lost Rs 12.1 billion.
From July to December 2023, government institutions paid 200 billion in taxes with an increase of 14 percent.
