There’s a bloodbath going on in our so-called Public Sector Enterprises (PSEs). Is there a commercial entity in the world with assets of Rs150 billion and accumulated losses of Rs750 billion? The only one I know is Pakistan International Airlines (PIA). Pakistan Steel produces nothing but manages to lose Rs67 billion every six months.

The government’s so-called ‘commodity operations’ have so far lost Rs800 billion. The 200 PSEs lose some Rs1,800 billion a year, every year. In addition to that, the government doles out Rs1,000 billion in subsidies a year, every year. In addition to that, the government doles out grants of Rs1,400 a year, every year.

Everyone knows this is unsustainable. Everyone knows this calls for urgent attention and strategic intervention. Everyone knows that the government has neither the will nor the capacity to run these PSEs. As the........

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