Islamabad, July 12, 2025: Pakistan’s is in deep financial troubles as more than 15 state-owned enterprises (SOEs) have recorded total losses crossing Rs. 5.9 trillion, while pension-related liabilities have reached Rs. 1.7 trillion. These figures were revealed in the latest six-month report released by the Ministry of Finance, prepared under conditions set by the International Monetary Fund (IMF).
According to the report, several public organizations faced heavy losses between July and December 2024. The National Highway Authority (NHA) reported a loss of Rs. 153.27 billion in just six months, bringing its total deficit to Rs. 1.953 trillion.
The Quetta Electric Supply Company (QESCO) suffered a six-month loss of Rs. 58.10 billion, with its total reaching Rs. 770.56 billion. Sukkur Electric Power Company (SEPCO) lost Rs. 29.60 billion during the same period, pushing its overall loss to Rs. 472.99 billion. Peshawar Electric Supply Company (PESCO) recorded a six-month deficit of Rs. 19.68 billion, with total losses now standing at Rs. 684.91 billion.
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Other key loss-making SOEs include Pakistan Steel Mills, which faced a loss of Rs. 15.60 billion in six months, raising its total loss to Rs. 255.82 billion. Pakistan Telecommunication Company Limited (PTCL) posted a loss of Rs. 7.19 billion, while its total losses stood at Rs. 43.57 billion.
Pakistan Agriculture Storage and Services Corporation suffered Rs. 7 billion in losses in the same period, pushing its total to Rs. 11.13 billion. Pakistan Post reported a six-month loss of Rs. 6.29 billion and now carries a total loss of Rs. 93.07 billion. Utility Stores Corporation lost Rs. 4.07 billion during the period, taking its total to Rs. 15.50 billion.
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Several power generation companies also showed significant losses. GENCO-II (Guddu Power Plant) posted a six-month loss of Rs. 3.82 billion, with total losses at Rs. 92.67 billion. GENCO-III (Muzaffargarh Power Plant) lost Rs. 3.11 billion in six months, raising its overall loss to Rs. 55.85 billion. Neelum-Jhelum Hydropower Company recorded Rs. 2.28 billion in losses, while its total loss reached Rs. 58.24 billion. GENCO-I (Jamshoro Power Company) saw a six-month loss of Rs. 1.33 billion, with its overall deficit now at Rs. 30.77 billion. Other smaller SOEs combined recorded six-month losses worth Rs. 5 billion, bringing their total losses to Rs. 1.370 trillion.
The report also revealed that circular debt has now reached Rs. 4.9 trillion, with the electricity sector alone accounting for Rs. 2.4 trillion. Financial performance in the energy and infrastructure sectors continues to weaken, and the growing burden of losses is putting increased pressure on Pakistan’s already strained economy.
