ISLAMABAD: The Pakistan Economy Watch (PEW) on Saturday lauded the decision of the government to speed up stalled process of privitization to reduce deficit as losses of the bleeding state-owned enterprises (SOEs) continues to mount.
The losses inflicted on public exchequer by 197 SOEs are now running into trillions of rupees while the government spent Rs 277 billion in 2017-18 to keep PIA and WAPDA artificially alive, it said.
The government should sell or shut down the enterprises which have become white elephants draining scarce national resources, said Dr. Murtaza Mughal, President PEW.
He said that eighteen thousand workers are serving in in overstaffed PIA is making a loss at the rate of $30 million a month while it has liabilities to the tune of two billion dollars.
Similarly, thousands of workers of Pakistan Steel Mills are getting salaries without any output since the last two years, he said, adding that Railways, energy companies, and other corporations are no different.
