Islamabad: Pakistan’s public sector companies have earned a remarkable profit of 102 billion rupees in the first half of the last fiscal year. This achievement comes with the support of the Special Investment Facilitation Council (SIFC). The performance reflects a solid improvement in the financial stability of government institutions.
Increase in Revenue
According to reports, the revenue of public sector companies has increased by 15%. The total revenue reached an impressive 700 billion rupees in the first half of the fiscal year. This rise in earnings highlights the growing contribution of these companies to the national economy.
Profit Transfer to Sovereign Wealth Fund
A total of 249 billion rupees in profits from seven major companies has been transferred to the Sovereign Wealth Fund. This move strengthens the country’s financial reserves and supports future economic stability. Among these companies, the Oil and Gas Development Company Limited (OGDCL) recorded the highest profit.
OGDCL’s profit for the period reached 123.3 billion rupees, marking it as the top performer among public sector companies. The significant profit reflects the company’s strong operations in the energy sector. OGDCL’s contribution is a crucial part of Pakistan’s overall economic growth.
Other Companies Record Profits
Pakistan Petroleum (PPL) also posted a strong profit of 68.8 billion rupees. The power sector, which has seen major improvements, earned a total of 50.7 billion rupees in profits. National Power Parks, another key player in the energy sector, recorded a profit of 36.3 billion rupees. Meanwhile, Pak Arab Refinery (PARCO) achieved a profit of 35 billion rupees.
Wider Growth Across Sectors
Other sectors have also made significant contributions to the profits. Lahore Electric, National Bank, WAPDA, and Port Qasim have reported considerable earnings. These entities reflect the broad-based growth within Pakistan’s public sector, showcasing the diversity of successful industries.
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