The Ministry of Finance (MoF) on Friday reported the aggregate losses of the state-owned enterprises (SOEs) at Rs832.8 billion during fiscal year 2024-25, 24NewsHD TV reported on Friday.
In its Aggregate Annual Report of federal SOEs for FY25, as required under the IMF programme, the MoF said that losses narrowed by 2% on a year-on-year basis, indicating a marginal improvement in the financial performance of SOEs.
However, aggregate profits of profit-making entities declined by 13% annually to Rs 709 billion.
Among loss-making entities, the National Highway Authority (NHA) recorded the highest deficit of Rs295 billion.
Power distribution companies also posted significant losses, with Quetta Electric Supply Company (QESCO) reporting Rs112.7 billion in losses and Peshawar Electric Supply Company (PESCO) Rs92.7 billion.
The national carrier Pakistan International Airlines (PIA) incurred losses of Rs48.9 billion, while Pakistan Railways posted a deficit of Rs60.3 billion. Sukkur Electric Power Company (SEPCO) recorded losses of Rs25.3 billion.
Other entities reporting losses included Lahore Electric Supply Company (LESCO) at Rs12.7 billion, Pakistan Steel Mills at Rs26 billion, Hyderabad Electric Supply Company (HESCO) at Rs13 billion, Islamabad Electric Supply Company (IESCO) at Rs1.4 billion, and Pakistan Post with losses of Rs19.3 billion.
On the profitability side, Oil and Gas Development Company Limited (OGDCL) emerged as the top-performing SOE, earning a profit of Rs170 billion. Pakistan Petroleum Limited (PPL) posted profits of Rs90 billion, while the National Bank of Pakistan (NBP) recorded Rs57 billion in earnings.
The report further revealed that the federal government extended financial support amounting to Rs2.078 trillion to SOEs during the fiscal year.
In addition, the government provided sovereign guarantees totaling Rs2.164 trillion to various public sector entities.