ISLAMABAD: Acting Minister for Parliamentary Affairs Murtaza Solangi addressed the Senate and clarified the urgent need to address the financial losses suffered by government-owned businesses.
During a Senate meeting chaired by Speaker Sadiq Sanjrani, Solangi outlined several measures aimed at mitigating these losses and initiating comprehensive reforms. He pointed out that more than 200 such institutions are currently experiencing financial losses of a staggering Rs 730 billion.
Solangi emphasized the importance of reforms, including the potential privatization of government institutions, which will be headed by the incoming elected government.
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In addressing this problem, he emphasized the unanimous agreement on the need to limit losses incurred by state-owned enterprises.
Acknowledging different views on the most effective solution, Solangi noted that while some advocate privatization as the primary remedy, others emphasize the importance of a more professional approach to governance.
The interim minister emphasized that the final decision on the course of action will be up to the elected government. Underscoring the gravity of the situation, he revealed that more than 200 institutions are currently facing financial losses of a staggering Rs 730 billion.
In contrast, profitable businesses generated a total profit of Rs 570 billion, showing the potential for financial sustainability. Solangi specifically addressed the losses incurred by the National Highway Authority (NHA), which amounted to around Rs 170 billion.
