Pakistani State-Owned Enterprises Rack Up Rs1.4 Trillion in Losses Over Two Years, Despite Some Profitability Gains
• State-owned enterprises in Pakistan incurred huge losses of Rs1.395 trillion in 2021 and 2022 fiscal years, more than twice the Public Sector Development Programme budget
• 50 of 81 evaluated state-owned enterprises were profitable in 2022, but 31 entities made large losses of Rs730 billion, resulting in overall net loss of Rs162 billion
• Top loss-maker was National Highway Authority with Rs422 billion losses over 2 years, almost equal to annual civil government expenditure
• Financial sector state-owned enterprises showed strong growth in assets, revenues and profits, but infrastructure and transport sector grappled with Rs294.5 billion net loss despite revenue growth
• Power sector assets climbed to Rs6.48 trillion, but persistent losses and heavy reliance on government support highlighted financial sustainability issues