- NHA suffers Rs153bn loss and toll mannequin strains funds.
- QESCO, SEPCO report Rs58bn, Rs29bn losses, respectively.
- Pakistan Railways, PESCO, PSM add billions to SOE losses.
ISLAMABAD: Main loss-making state-owned enterprises (SOEs) recorded a mixed internet lack of Rs123 billion within the fiscal 12 months 2024–25, reflecting a pointy improve of practically 300% in contrast with losses of Rs30.6 billion reported in FY2023–24, The Information reported on Saturday.
The figures spotlight a major deterioration within the monetary efficiency of public sector entities.
Within the first half of FY2025, main loss-making SOEs reported a mixed internet lack of Rs343 billion. The Nationwide Freeway Authority (NHA) recorded a lack of Rs153.3 billion, pushing its collected losses to Rs1,953.4 billion — reflecting the unsustainable toll income mannequin amid huge street infrastructure enlargement.
Quetta Electrical Provide Firm (QESCO) and Sukkur Electrical Energy Firm (SEPCO) adopted with losses of Rs58.1 billion and Rs29.6 billion, respectively, with collected losses of Rs770.6 billion and Rs473.0 billion, underscoring continual inefficiencies and poor recoveries within the distribution phase.
Different notable contributors to the fiscal drain included Pakistan Railways (Rs26.5 billion loss; collected losses Rs6.7 billion), Peshawar Electrical Provide Firm (PESCO) with a Rs19.7 billion loss (Rs684.9 billion collected), and Pakistan Metal Mills (PSM) reporting Rs15.6 billion in losses, elevating its collected shortfall to Rs255.8 billion.
Moreover, Pakistan Telecommunication Firm Restricted (PTCL) posted Rs7.2 billion in losses (collected: Rs43.6 billion), Pakistan Publish Rs6.3 billion (Rs93.1 billion collected), and Utility Shops Company Rs4.1 billion (Rs15.5 billion collected), revealing persistent operational and structural points.
Amongst energy era entities, the GENCOs (I-IV) collectively posted over Rs8.3 billion in mixed losses: GENCO-II (Guddu) at Rs3.8 billion, GENCO-III (Muzaffargarh) at Rs3.1 billion, and GENCO-I (Jamshoro) at Rs1.3 billion. Neelum Jhelum Hydro Energy Firm posted Rs2.3 billion in losses (collected: Rs58.2 billion).
Collectively, “All different” loss-making SOEs added Rs2.7 billion to the burden, with their cumulative losses totalling Rs1,285.96 billion, bringing the overall collected losses of those 15+ entities to Rs5,893.2 billion — a stark indicator of deep-rooted monetary inefficiencies and the pressing want for turnaround methods.
A gathering of the Cupboard Committee on State-Owned Enterprises (CCoSOEs) was held on Friday on the Finance Division beneath the chairmanship of the Federal Minister for Finance and Income, Senator Muhammad Aurangzeb.
The Cupboard Committee was offered with the Annual Consolidated Efficiency Report of Industrial and Non-Industrial State-Owned Enterprises (SOEs) for FY 2024–25, ready by the Central Monitoring Unit (CMU) of the Finance Division.
The presentation, delivered by Majid Soofi, Director Basic CMU, lined in-depth particulars of the SOE 360-degree view, together with the monetary and non-financial efficiency of SOEs, authorities assist and financial flows, the contribution of SOEs to the exchequer, debt profile, company governance and compliance standing, marketing strategy assessments, and the proposed method ahead beneath the SOEs Act, 2023.
The committee was knowledgeable, reflecting a decline largely attributable to decreased profitability within the oil sector following decrease worldwide oil costs.
Mixture earnings of profit-making SOEs declined by 13% to Rs709.9 billion, in comparison with Rs820.7 billion final 12 months, whereas mixture losses of loss-making SOEs confirmed enchancment, declining by round 2% to Rs832.8 billion.
On fiscal assist, the Committee famous that whole authorities assist to SOEs elevated to Rs2,078 billion throughout FY 2024-25, pushed primarily by greater fairness injections to clear round debt inventory, whereas subsidies confirmed a modest decline.
On the identical time, inflows from SOEs to the federal government elevated to Rs2,119 billion, supported by greater dividends, tax receipts, and curiosity earnings on authorities lending.
The debt profile of SOEs was mentioned intimately. Whole SOE debt on the portfolio stage elevated to Rs9.57 trillion, comprising money improvement loans, international re-lent loans, financial institution borrowings, and accrued curiosity.
