ISLAMABAD: Despite the government’s proclamations of reforms and economic stabilisation, the overall financial performance of state-owned entities (SOEs) deteriorated further in 2024-25, with their consolidated losses surging by 302 per cent, mainly led by the power sector, according to the Ministry of Finance (MoF).

The ministry confirmed that not only did overall revenues decline, but consolidated profits also fell, and financial losses and budget injections increased in 2024-25 compared to the previous year. The consolidated financial results of the SOEs firmed up by Central Monitoring Unit (CMU) of the MoF came up for review before a meeting of the Cabinet Committee on SOE (CCoSOEs) presided over by Finance Minister Muhammad Aurangzeb on Friday.

The committee was informed that “during 2024-25, aggregate revenues of SOEs stood at approximately Rs12.4 trillion, reflecting a decline largely attributable to reduced profitability in the oil sector following lower international oil prices,” the MoF said.

Aggregate profits of pro­­fit-making SOEs decli­ned by 13pc to Rs709.9bn compared to Rs820.7bn last year, while aggregate losses of loss-making SOEs showed improvement, declining by around 2pc to Rs832.8bn. “Despite this........

© Dawn Business