Caretaker Minister of Parliamentary Affairs, Murtaza Solangi, has addressed the Senate, shedding light on the pressing need to address the financial losses incurred by government-owned enterprises.
During the Senate meeting chaired by Chairman Sadiq Sanjrani, Solangi outlined several measures aimed at mitigating these losses and initiating comprehensive reforms. He highlighted that over 200 such institutions are currently experiencing financial losses, amounting to a staggering Rs 730 billion.
Solangi emphasized the importance of reforms, including the potential privatization of government institutions, which will be spearheaded by the incoming elected government.
While addressing the issue, he underscored the unanimous agreement on the necessity to curb losses incurred by government-owned enterprises.
Acknowledging varying perspectives on the most effective solutions, Solangi noted that while some advocate for privatization as the primary remedy, others emphasize the importance of a more professional approach to governance.
The caretaker minister stressed that the ultimate decision regarding the course of action will rest with the elected government. He highlighted the severity of the situation, revealing that over 200 institutions are currently grappling with financial losses amounting to a staggering Rs 730 billion.
In contrast, profit-making enterprises have generated a total profit of Rs 570 billion, showcasing the potential for financial sustainability. Solangi specifically addressed the losses incurred by the National Highway Authority (NHA), which amounted to approximately Rs 170 billion.
