State-run commercial entities in Pakistan have reported staggering losses of Rs1.395 trillion over the fiscal years 2021 and 2022. This raises significant concerns about the financial management and operational efficiency in the public sector. A report by the Ministry of Finance revealed that 50 of the 81 evaluated entities reported a combined profit of Rs568.44 billion in fiscal 2022, while the remaining 31 entities incurred a net loss of about Rs162 billion. Some companies turned from profitability to significant losses in a short period of time. Despite these losses, the commercial state-owned enterprise portfolio contributed significantly to the national economy through corporate taxes, dividends, and employment. The report also highlighted declines in financial performance and revenue for some state-run media entities like Pakistan Broadcasting and Pakistan Television. Additionally, it mentioned challenges in balancing socio-economic goals with operational efficiency. Despite these challenges, the financial sector assets, including banks, insurance companies, and others, have shown consistent growth over the last three fiscal years. The report also provided details about other sectors, including infrastructure, manufacturing, mining, engineering, oil and gas, and power, showcasing both strengths and challenges.
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