Profitable SOEs Earn Rs. 423 Billion, Loss-Making Ones Lose Rs. 343 Billion in H1 FY26

During the first half of fiscal year 2026, state-owned enterprises in Pakistan reported a combined revenue of Rs. 839 billion, while incurring losses totaling Rs. 342.8 billion, according to the Cabinet Committee on State-Owned Enterprises. This resulted in a net fiscal flow of Rs. 35 billion for the government. Finance Minister Muhammad Aurangzeb chaired the meeting, attended by Minister for Maritime Affairs Junaid Anwar Chaudhry, who reviewed the performance of federal SOEs from July to December 2025.

The Central Monitoring Unit of the Finance Division presented an assessment of SOEs' financial health, profitability, losses, fiscal flows, business plans, governance, and progress towards key targets. The committee highlighted the need for corrective measures and structural reforms in underperforming entities, noting issues such as circular debt, fiscal risks, operational weaknesses in power and infrastructure sectors, governance gaps, and the need for improved board effectiveness.

The committee also approved the appointment of independent directors to several board positions and an amendment to the State-Owned Enterprises Policy to align financial reporting standards with those set by the Securities and Exchange Commission of Pakistan.