State Entities Incurred More Than Rs. 729 Billion Losses in FY22

State-owned entities (SOEs) in Pakistan incurred substantial financial losses exceeding Rs. 729 billion in FY2021-2022, according to a Finance Ministry document seen by ProPakistani. Documents revealed the National Highway Authority had the worst performance among SOEs, posting a staggering Rs. 168 billion in losses in FY22. Peshawar Electric Supply Company reported losses of over Rs. 102 billion. Similarly, Pakistan International Airlines (PIA) reported losses exceeding Rs. 97.53 billion, while Quetta Electric Supply Company and Hyderabad Electric Supply Company incurred losses of more than Rs. 76.41 billion and Rs. 54.4 billion, respectively. Further analysis of the document showed Pakistan Railways incurred losses amounting to over Rs. 47.48 billion. The Lahore Electric Supply Company wasn’t spared either, facing a substantial financial setback of more than Rs. 30.21 billion. Sukkur Electric Supply Company reported losses of Rs. 29.48 billion. The document also highlights the financial struggles of other key entities, with Multan Electric Power Company (MEPCO) recording losses exceeding Rs. 22 billion, and Tribal Area Electric Supply Company (TESCO) facing losses exceeding Rs. 21 billion. Additionally, losses from various other SOEs were documented at more than Rs. 80 billion.