ISLAMABAD: The government of Pakistan provided Rs616 billion in fiscal support to sustain the operations of loss-making state-owned enterprises during the six-month period ending December 2024, according to the latest biannual report released by the Ministry of Finance.
The support included Rs113 billion in grants, Rs333 billion in subsidies—mostly directed to the power sector—Rs92 billion in loans, and Rs77.5 billion in equity injections. The report highlighted the continued burden underperforming SOEs place on public finances.
During the first half of fiscal year 2025, major SOEs recorded a combined net loss of Rs343 billion. The National Highway Authority reported the highest loss at Rs153.3 billion, with total accumulated losses reaching Rs1,953.4 billion.
The report linked the losses to an unsustainable toll-revenue model and rapid expansion of road infrastructure.
Quetta Electric Supply Company reported a loss of Rs58.1 billion, bringing its accumulated losses to Rs770.6 billion, while Sukkur Electric Power Company posted a loss of Rs29.6 billion, with total losses at Rs473 billion. Both companies continue to face issues with efficiency and recoveries.
Pakistan Railways posted a loss of Rs26.5 billion, with accumulated losses at Rs6.7 billion. Peshawar Electric Supply Company recorded a loss of Rs19.7 billion, bringing its total losses to Rs684.9 billion. Pakistan Steel Mills reported Rs15.6 billion in losses, pushing its accumulated deficit to Rs255.8 billion.
Other entities contributing to the overall fiscal pressure include Pakistan Telecommunication Company Limited, which posted a loss of Rs7.2 billion and has accumulated losses of Rs43.6 billion. Pakistan Post recorded a loss of Rs6.3 billion, with total losses of Rs93.1 billion. Utility Stores Corporation reported Rs4.1 billion in losses, with an accumulated deficit of Rs15.5 billion.
