Islamabad
Business leader and former president of the Islamabad Chamber of Commerce Shahid Rasheed Butt on Friday said the long-promised push to reform state-owned enterprises has been laid bare by sharply deteriorating financial results, with official data showing that losses have ballooned despite repeated assurances of turnaround plans.
Cumulative net losses of SOEs surged almost 300 percent to Rs122.9 billion in FY2024 25, up from Rs30.6 billion a year earlier, showing that the reform narrative is not translating into results, he said. He said combined SOE revenues declined by more than 10 percent to Rs12.4 trillion, while even profit-making entities saw earnings slip 13 percent to Rs710 billion.
