Federal SOEs deliver Rs35bn positive fiscal flow in H1FY26

Federal state-owned enterprises contributed Rs839 billion to the government in H1FY26, against Rs804 billion of support, leaving a net fiscal gain of Rs35 billion for the exchequer. According to Mettis Global, a review presented to the Cabinet Committee on State-Owned Enterprises covered July to December 2025. Profitable SOEs posted combined profits of Rs423.3 billion, while loss-making entities recorded combined losses of Rs342.8 billion.

The Finance Division's Central Monitoring Unit presented the review, which covered financial and operational performance, governance and progress against business plans. Issues needing sustained attention included circular debt, weak operations in some power and infrastructure units, and governance shortcomings. A digital analytics platform was also demonstrated, designed to bring SOE data together and produce standard reports and dashboards.

The committee also approved independent director posts at Printing Corporation of Pakistan and a chairman for IRADA, plus nominees for independent director posts at Pakistan State Oil Company Limited (PSO). An amendment to the SOEs Policy 2023 was approved on IFRS monitoring, under which SECP-notified standards apply to SOEs while SBP-regulated SOEs follow the SBP framework.