Islamabad – Finance Minister Muhammad Aurangzeb on Friday reaffirmed the government’s resolve to reform and revitalize Pakistan’s state-owned enterprises (SOEs), stressing the need for improved governance, financial discipline, and operational efficiency.
Chairing a meeting of the Cabinet Committee on State-Owned Enterprises, the minister said that aligning the business strategies of SOEs with national priorities is crucial to their turnaround. He emphasized that operational challenges must be addressed promptly and reforms, particularly in the power and energy sectors, must not be delayed.
Aurangzeb reiterated the government’s commitment to bringing greater transparency and accountability to the management of public entities. “We cannot afford to let these institutions continue to bleed public money,” he said. “The time for superficial fixes is over — structural reforms are now essential.”
He also called on government-appointed directors sitting on SOE boards to play a more active and responsible role. “These directors must go beyond ceremonial participation. They need to exercise due diligence and contribute informed insights to help safeguard the financial and operational health of these entities,” he added.
During the meeting, the Central Monitoring Unit of the Finance Division presented its biannual performance report covering the period from July to December of last year. The report highlighted deep-rooted issues faced by SOEs, including cumulative losses amounting to a staggering Rs5.8 trillion.
The sobering figures underscored the urgency of reform. With many SOEs operating under inefficient structures and outdated models, the government now finds itself at a critical juncture — either implement meaningful change or risk further economic drag from these ailing institutions.
Aurangzeb’s message was clear: the status quo is no longer sustainable.
