20 ministries lose Rs 145 billion, finance standing committee

The National Assembly’s Standing Committee on Finance has revealed that 200 companies are run by 20 ministries and in the financial year 2018-19, these companies incurred a loss of Rs 145 billion. And the Operations Bill 2021 was considered in detail, the approval of the bill was delayed while it was revealed by the Ministry of Finance that 200 companies are run by 20 ministries. In the financial year 2018-19, these companies incurred a loss of Rs 145 billion. Discus, PIA, Pakistan Steel Mills and National Highways Authority, while OGDCL and PPL make more profit. The Ministry of Finance has been collecting data of these companies for 6 years. The meeting was chaired by Faizullah Kamuka, chairman of the committee on finance. Ayesha Ghous Pasha, a member of the committee, said that the majority of state-owned companies are at a loss. Will they be privatized? Officials of the Ministry of Finance said that the government’s central monitoring system is only for companies. The Secretary Finance said that the Ministry of Finance would have no role in running these companies, only the Ministry of Finance was involved in this process due to public finance.

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