H1FY26: SOEs incur Rs342.8bn losses

Business Recorder reported that loss-making state-owned enterprises recorded combined losses of Rs342.8 billion in the first half of FY2025-26 (July to December 2025). Over the same period, the government provided Rs804 billion in support, a burden the report describes as persistent. The figures came up at a Cabinet Committee on State-Owned Enterprises meeting chaired by Federal Minister for Finance and Revenue Muhammad Aurangzeb.

Profitable SOEs earned Rs423.3 billion in profits during the same six months, while SOE contributions to the government reached Rs839 billion, leaving a net fiscal inflow of Rs35 billion for the state. The Central Monitoring Unit of the Finance Division presented a detailed review that flagged circular debt, weaknesses in power and infrastructure, and governance gaps.

The committee also approved independent director nominations for the board of Pakistan State Oil Company Limited (PSO). Separately, it endorsed an amendment to the SOE policy under which SECP-notified financial reporting standards apply to SOEs, while the SBP framework prevails for entities it regulates.