ISLAMABAD: Pakistan’s adviser to the finance minister said the country’s State-Owned Enterprises (SOEs) reform has generated a Rs35 billion profit for the government, signaling a shift from identifying problems to stronger oversight, greater transparency, and real execution.
Khurram Schehzad, in a statement on X, said the review for the first half of the current year shows that profit-making SOEs generated Rs423.3 billion in aggregate profits, against Rs342.8 billion in collective losses.
“This way the profit-earning SOEs fetch a sum of Rs839 billion for the country,” explained the adviser in his post on X.
He added that the government spent Rs804 billion to support the SOEs, bringing the country's aggregated revenue from the SOEs to Rs35 billion.
Schehzad said that although losses remain significant and structural challenges persist in parts of the portfolio, that is precisely why the government’s SOE reform program is focused on performance, accountability and decisive action.
"Reform is not just being diagnosed; it is being executed," the finance adviser explained.
He went on to say that the government is rationalizing the SOE footprint through closure, restructuring and privatization, based on the commercial viability and strategic rationale of individual entities.
He said that a broader pipeline of SOEs is progressing through restructuring and privatization.
“The principle is straightforward: Government should not remain in businesses where the private sector can operate more efficiently.”
Khurram Schehzad said that SOEs retained in the public sector must become professionally governed, financially disciplined, and accountable for results.
“The Central Monitoring Unit of the Ministry of Finance has operationalized an integrated digital reporting and analytics platform, bringing financial and operational performance, business-plan implementation and risk monitoring into a more standardized, data-driven framework,” he further added.
“This means better visibility, earlier identification of risks, measurable KPIs and stronger accountability for performance.”
Khurram Schehzad said that the government is also strengthening board effectiveness, financial reporting, and business plan oversight while addressing circular debt, operational weaknesses, and other fiscal risks across the portfolio.