Various government agencies borrowed Rs 337 billion in the last fiscal year, raising their cumulative debt burden to Rs 3,514 billion, according to a report released by the Ministry of Finance.
The report revealed that several key state-owned enterprises (SOEs) continue to rely on heavy borrowing, with the National Transmission and Dispatch Company (NTDC) taking on Rs76 billion, Hyderabad Electric Supply Company (HESCO) borrowing Rs73 billion, and GENCO One securing Rs8 billion.
Other agencies listed in the report include Multan Electric Power Company (MEPCO), Quetta Electric Supply Company (KESCO), PIA Holding, Karachi Port Trust, Peshawar Electric Supply Company (PESCO), Islamabad Electric Supply Company (IESCO), State Engineering, and Pakistan Steel Mills.
Among the major defaulters, WAPDA already holds liabilities worth Rs 298 billion, while GENCO One owes Rs 140 billion.
The report further disclosed that PIA Holding Company carries a debt of Rs 168 billion, Pakistan Steel Mills has liabilities amounting to Rs 105 billion, and the Neelum Jhelum Hydropower Company is indebted by Rs 167 billion.
The report also highlighted that 27 state-owned enterprises, including multiple electricity distribution companies, remain heavily indebted.
Furthermore, the government disbursed Rs 782 billion in subsidies to 16 state institutions in the last fiscal year, with six entities receiving Rs 367 billion in subsidies. Additionally, Rs 99.56 billion was invested in various public sector enterprises.
