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ISLAMABAD: The National Highway Authority (NHA) and the power sector have topped the list of 23 loss-making entities during the fiscal year 2022-23.

According to “Aggregate Annual Report of Central Monitoring Unit on SOEs”, the NHA remained on top in terms of losses during the fiscal year 2022-23 with Rs413.454 billion followed by power sector with Rs285 billion losses.

The report reveals that the losses of Quetta Electric Supply Company Limited were Rs88.487 billion followed by Peshawar Electric Supply Company Limited Rs80.595 billion, Lahore Electric Supply Company Limited Rs30.839 billion, Sukkur Electric Power Company Limited Rs30.667 billion, Multan Electric Power Company Limited Rs23.372 billion, Hyderabad Electric Supply Company Limited Rs15.640 billion, and Faisalabad Electric Supply Company Limited Rs14.983 billion besides the losses of Islamabad Electric Supply Company Limited at Rs666 million.

Pakistan International Airlines Corporation losses were Rs75.755 billion during 2022-23 fiscal year, Pakistan Railways’ losses Rs48.534 billion, and Pakistan Steel Mills Corporation (Private) Limited’s losses Rs25.455 billion.

Sui Southern Gas Company Limited losses during the fiscal year 2022-23 were Rs17.350 billion, and the Pakistan Telecommunication Company Limited losses Rs15.544 billion.

GENCO-II- Central Power Generation Company Limited, Thermal Power Station, Guddu losses have been reported Rs14.170 billion, GENCO-III- Northern Power Generation Company Limited, Thermal Power Station, Muzaffargarh Rs3.240 billion, Pakistan Post Office Rs3.234 billion, Pakistan Broadcasting Corporation Rs1.617 billion, GENCO-I- Jamshoro Power Company Limited Rs910 million, GENCO-IV- Lakhra Power Generation Company Limited Rs480 million.

Losses of Pakistan Expo Centres (Pvt) Ltd were Rs181 million, Pakistan Revenue Automation (Private) Limited Rs165 million, and State Engineering Corporation (Private) Limited Rs32 million.

Copyright Business Recorder, 2024

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Aam Aadmi Jun 29, 2024 06:47am
All these loss-incurring entities should be shut down permanently. Sell PIA. Bury the energy sector and outsource its running by the Chinese. Kick out 'Must Khoras' of all sectors out of the country.
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Salman Jun 29, 2024 07:59pm
@Aam Aadmi, rightly said. These SOE are sucking tax money.
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Hasan Jun 29, 2024 08:51pm
The Author must explain or inform how NHA is a a loss making entity. What is the breakup of Rs. 413.454 billion losses. Is spending on roads for public really a loss?
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Fazal Jul 03, 2024 11:40am
If the NHA is loss making entity, question arise where this billions of toll tax collected goes?
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