FinMin claims losses of SOEs plummet by around Rs74b in three years

Islamabad: Finance Minister Muhammad Aurangzeb has said that the losses of state-owned enterprises (SOEs) have decreased by about seventy-four billion rupees over the last three years.

In a televised message, he highlighted the downward trend in SOE losses, noting that they were 905 billion rupees in 2023, 851 billion rupees in 2024 and 832 billion rupees in the previous year.

He said the positive inflow from the state owned enterprises was to the tune of forty billion rupees in the last year.

The Finance Minister said the government has taken measures such as bringing in independent private sector board members to improve the governance of SOEs. He said we are seeking business plans for bringing further improvement in the state owned enterprises.

He also mentioned the closure of some departments such as PWD and Utility Stores Corporation, saying that PASSCO is also in the process of closure.

Referring to the privatization of First Women Bank and PIA, the Finance Minister highlighted the progress in the privatization of other state owned enterprises including Zarai Taraqiati Bank, House Building Finance Company and five DISCOs.

He expressed the government's commitment to take forward the privatization process with speed and transparency.