Six-Month Performance Report of Federal State-Owned Institutions
Islamabad – (Pakistan’s News)
The six-month performance report of federal state-owned public institutions has been released, shedding light on both profits and losses during the period from July to December 2023.
Key Financial Highlights
- Losses Incurred:
- Government institutions faced a total loss of Rs 147 billion during the six-month period.
- Cumulative losses from 2014 to 2023 reached Rs 5,900 billion.
- The government provided Rs 436 billion in financial assistance to mitigate losses.
- Profits Earned:
- State-Owned Enterprises (SOEs) generated a profit of Rs 510 billion, reflecting a 45% increase.
- Profits from the Pakistan Sovereign Wealth Fund contributed Rs 249 billion.
Top-Performing Institutions
- Oil and Gas Development Company Limited (OGDCL): Rs 113.2 billion profit.
- Pakistan Petroleum Limited (PPL): Rs 68.7 billion profit.
- National Power Parks Management: Rs 36.2 billion profit.
- Other Profitable Entities:
- PARCO
- Government Holdings
- National Bank
Loss-Making Institutions
- Quetta Electric Company: Rs 56.2 billion loss.
- PESCO: Rs 39 billion loss.
- Pakistan Railways: Rs 23.6 billion loss.
- Sukkur Electric Company: Rs 20.9 billion loss.
- Steel Mills: Rs 14.4 billion loss.
- IESCO: Rs 12.1 billion loss.
Tax Contributions
- Government institutions contributed Rs 200 billion in taxes, reflecting a 14% increase compared to previous periods.
This report underscores the mixed performance of state-owned institutions, highlighting areas of growth as well as challenges that need urgent attention.
Source: Daily Pakistan.