Pakistan’s Caretaker Finance Minister, Dr. Shamshad Akhtar, has revealed that most state-owned enterprises (SOEs) in the country are failing to provide services, resulting in annual losses of approximately Rs500 billion. Dr. Akhtar stated that the government plans to maintain control of strategic SOEs, while others will undergo either restructuring or privatization.
She also mentioned that a policy draft has been prepared regarding SOEs, and further consultations will be held to improve the document. Dr. Akhtar emphasized the need for SOEs to take operational measures to enhance their efficiency, as mismanagement has contributed to their increasing losses.
This revelation highlights the financial challenges facing Pakistan, including a depreciating currency and difficulties in expanding the tax base to boost revenue collection. Addressing the issues related to SOEs is a significant step in addressing the country’s economic concerns.
