31 state-owned companies made a staggering loss of Rs730bn in a fiscal year

Pakistan’s 31 state-owned commercial companies made a huge loss of Rs 730 billion in the financial year, with the National Highway Authority (NHA) at the top.

This disclosure has been made in a report issued by the Ministry of Finance under the conditions of the IMF.

The country’s biggest loss-making organization was the NHA, which suffered a loss of Rs 168.5 billion. Whereas, the Peshawar Electric Supply Company (PESCO) suffered a loss of Rs 102 billion.

Pakistan International Airlines (PIA) was the third-largest loss-making institution, causing a loss of Rs 97.5 billion to the national exchequer in 2022.