A new report from the Ministry of Finance has revealed that more than 15 state-owned companies in Pakistan are facing huge financial problems. Together, their losses have now crossed 59 trillion rupees, which is a very serious issue for the country’s economy.
The report explains that in just the first six months of the last financial year, the total deficit grew by 3.45 trillion rupees. This means that these companies are losing money even faster than before. On top of that, the government now has pension liabilities worth 17 trillion rupees, which adds more pressure on national finances.
According to the report, the National Highway Authority (NHA) has the biggest losses among all government-run organizations. The NHA’s losses alone have reached 1.953 trillion rupees. The second biggest loss-maker is the Quetta Electricity Supply Company (QESCO), with losses of 770.6 billion rupees. Next is the Peshawar Electricity Supply Company (PESCO), which has losses of 684.9 billion rupees.
The report warns that the losses of electricity companies keep getting worse every year. Many experts believe that poor management, old equipment, power theft, and unpaid bills are some of the main reasons for these growing losses.
If these problems are not fixed soon, Pakistan’s government will face even more financial difficulties. Many people think that urgent reforms are needed to make these companies more efficient and reduce waste. Without changes, the burden of losses and pensions could put a big strain on taxpayers and the national budget in the coming years.
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