SOEs Incurred Losses of Whopping Rs. 5.6 Trillion in Last 10 Years

The aggregate losses of state-owned enterprises (SOEs) in the last ten years hit nearly Rs. 5.6 trillion by the end of FY23. According to the Aggregate Annual Report of Federal State Owned Enterprises (SOEs) for the financial year 2023, the aggregate losses of these 23 entities for the past 10 years totaled Rs. 5,595 Billion Since 2014, the accumulated losses of the National Highway Authority (NHA) stood at Rs. 1.55 trillion, the accumulated losses of Quetta Electric Supply Company Limited during the period stood at Rs. 594 billion, Peshawar Electric Supply Company Limited Rs. 549 billion, Pakistan International Airlines Corporation Rs. 712 billion, and Pakistan Railways Rs. 390 billion. Lahore Electric Supply Company Limited with Rs. 219 billion, Sukkur Electric Power Company with Rs. 374 billion, Pakistan Steel Mills Corporation (Private) Limited with Rs. 224 billion, Multan Electric Power Company Limited with Rs. 191 billion, and Hyderabad Electric Supply Company Limited with Rs. 264 billion make up the top ten SOEs with highest aggregate losses since 2014. The list shows that the ower sector, particularly on the DISCO side, continued to be dominated by loss-making entities.