Farooq Awan

Profit-making federal state-owned enterprises (SOEs) generated combined earnings of Rs709.9 billion during fiscal year 2025, with the bulk of profits contributed by a limited number of large entities in the oil and gas, financial and power sectors, according to the Federal State-Owned Enterprises Annual Aggregate Report FY2025.

The report shows that Oil and Gas Development Company Limited (OGDCL) recorded the highest profit among all SOEs, posting earnings of Rs169.9 billion during the year. Pakistan Petroleum Limited (PPL) followed with profits of Rs89.9 billion.

National Bank of Pakistan (NBP) reported profits of Rs56.7 billion, while the Water and Power Development Authority (WAPDA) recorded Rs52.3 billion. Government Holdings (Private) Limited posted profits of Rs48.5 billion.

Among infrastructure and transport entities, Karachi Port Trust earned Rs35.3 billion, while Port Qasim Authority reported Rs35.1 billion. Pakistan National Shipping Corporation posted profits of Rs20.4 billion.

Pak Arab Refinery Company recorded earnings of Rs22.2 billion during the fiscal year.

Financial sector entities also contributed to the overall profit pool. State Life Insurance Corporation reported Rs14.8 billion in profits. Zarai Taraqiati Bank Limited earned Rs9.7 billion. Exim Bank of Pakistan Limited posted Rs2.5 billion, while Pakistan Reinsurance Company Limited reported Rs2.1 billion.

In the energy sector, Sui Northern Gas Pipelines Limited (SNGPL) recorded profits of Rs14.6 billion. Pakistan State Oil (PSO) posted Rs14.2 billion. Gujranwala Electric Power Company earned Rs13.7 billion, while Faisalabad Electric Supply Company recorded Rs9.4 billion. Tribal Electric Supply Company reported Rs9.3 billion.

National Transmission and Despatch Company posted profits of Rs7.7 billion, and Sui Southern Gas Company reported Rs7.5 billion for nine months. Pakistan International Airlines Corporation Limited recorded Rs6.8 billion in revenue for the first six months of the fiscal year.

Other profit-making entities included Saindak Metals Limited, with earnings of Rs8.5 billion; Multan Electric Power Company, with Rs5.3 billion; and GENCO-III, with Rs4.5 billion.

Several smaller entities also reported positive results. These included National Security Printing Company, Pakistan Mineral Development Corporation, Pakistan Industrial Development Corporation, National Engineering Services Pakistan, and Trading Corporation of Pakistan, among others.

In total, 52 SOEs reported profits during FY2025, contributing to the aggregate profit of Rs709.9 billion. The report presents these figures as part of its annual consolidated review of the financial performance of federal state-owned enterprises operating across oil and gas, financial services, power, infrastructure, manufacturing and other sectors for the fiscal year ended June 2025.

Credit: INP-WealthPk