Losses of SOEs Drop by Around Rs74 Billion in 3 Years: Aurangzeb

Islamabad: Finance Minister Muhammad Aurangzeb has announced that the losses of state-owned enterprises (SOEs) have decreased by approximately seventy-four billion rupees over the last three years. In a televised message, he emphasized the reduction in SOE losses, which were recorded at 905 billion rupees in 2023, 851 billion rupees in 2024, and 832 billion rupees in the previous year.

According to Radio Pakistan, the Finance Minister also highlighted that the positive inflow from state-owned enterprises amounted to forty billion rupees last year. He attributed this improvement to the government’s measures, such as the inclusion of independent private sector board members to enhance SOE governance. Aurangzeb mentioned that the government is actively seeking business plans to further improve the performance of state-owned enterprises.

Additionally, the Finance Minister discussed the closure of certain departments, including PWD and Utility Stores Corporation, noting that PASSCO is also in the process of closure. He referred to the ongoing privatization of First Women Bank and PIA, and highlighted progress in the privatization of other state-owned enterprises such as Zarai Taraqiati Bank, House Building Finance Company, and five DISCOs.

Aurangzeb expressed the government’s commitment to advancing the privatization process with speed and transparency.