ISLAMABAD: Finance Minister Muhammad Aurangzeb on Tuesday expressed alarm over government data showing state-owned enterprises (SOEs) have incurred losses nearing Rs6 trillion, vowing to privatise eight entities within the year as part of broader reforms.
Speaking in the Senate on a calling attention notice, Aurangzeb said the Biannual Performance Report from the Finance Division revealed SOE losses of Rs5.89 trillion in the first half of FY2024-25. “This is alarming indeed,” he said, noting that last year’s national revenue stood at Rs12 trillion — meaning nearly half was wiped out by SOE losses.
The minister said 24 SOEs have been earmarked for privatisation, with eight to be sold off this year and the remainder to follow. The list includes three power distribution companies already in the process of privatisation. Aurangzeb praised Sindh’s public-private partnership model and said private sector professionals are being appointed as SOE board chairs to improve performance.
He added that cabinet committees on SOEs and rightsizing are working on reforms across 43 ministries and 400 departments, alongside expenditure cuts such as pension reforms.
Earlier, the Senate unanimously passed the Anti-Dumping Duties (Amendment) Bill, 2025, granting retrospective exemptions for imports linked to foreign grant-in-aid projects. Opposition senators, however, staged a walkout in protest against the recent convictions of PTI lawmakers by anti-terrorism courts.
The Senate, currently without an opposition leader following the disqualification of Shibli Faraz, was adjourned until Friday.
Story by Sardar Sikander Shaheen
