Article:, Islamabad: Pakistan Peoples Party (PPP) senior leader and former Federal Minister, Sherry Rehman, has demanded an urgent and comprehensive audit into the staggering Rs. 6 trillion losses incurred by the country’s state-owned enterprises (SOEs).
Speaking to media representatives, Rehman expressed grave concern over the alarming financial hemorrhage, stressing that such colossal losses cannot be ignored amid Pakistan’s ongoing economic crisis. She asserted that the public deserves to know how taxpayers’ money was mismanaged and where the accountability chain has broken.
Massive Losses Demand Massive Transparency
Rehman criticized the lack of transparency and accountability in managing SOEs, which include entities such as Pakistan International Airlines (PIA), Pakistan Steel Mills (PSM), and Pakistan Railways. Many of these organizations, she argued, have been operating at losses for decades without meaningful reform.
“This is not just about numbers; it’s about public trust,” Rehman said, adding that SOEs must be audited independently to identify the root causes of financial mismanagement, corruption, and operational inefficiency.
The Rs. 6 Trillion Burden on the Economy
According to the Ministry of Finance’s recent report, Pakistan’s SOEs collectively posted losses exceeding Rs. 6 trillion in recent years. These losses contribute heavily to the national fiscal deficit, further limiting the government’s ability to invest in public services such as healthcare, education, and infrastructure.
Economists have repeatedly warned that without structural reforms in state-run enterprises, Pakistan will remain trapped in a cycle of borrowing and debt repayment.
Call for Parliamentary Oversight
Sherry Rehman urged Parliament to take immediate notice of the situation and form a special bipartisan committee to oversee the audit process.
“Our institutions must answer to the people,” she stated. “Without oversight, we are allowing public wealth to vanish into a black hole of inefficiency and corruption.”
She also highlighted the importance of aligning SOE governance with global best practices, including introducing performance-based management contracts and ensuring merit-based hiring.
Corruption, Nepotism, and Mismanagement
Critics have long argued that political interference, nepotism, and outdated business models are the key reasons for these staggering losses. Many SOEs are overstaffed, underproductive, and dependent on government bailouts to survive.
Rehman emphasized that Pakistan can no longer afford “white elephants” in its economy. She called for a restructuring plan that may include public-private partnerships or, in some cases, partial privatization to improve efficiency and service delivery.
Public Reaction and Political Implications
The PPP leader’s remarks have sparked a fresh political debate, with some opposition leaders backing her demand for accountability, while others accuse her of playing politics over an old issue.
Nevertheless, civil society groups and economic analysts agree that a transparent audit could restore public trust and set a precedent for financial accountability in Pakistan’s governance system.
Why This Audit Matters for Ordinary Pakistanis
For the average Pakistani, Rs. 6 trillion is not just a number. It represents the roads that could have been built, hospitals that could have been upgraded, and schools that could have been established if the funds had been managed wisely.
By holding SOEs accountable, Rehman believes Pakistan can take a decisive step toward fiscal discipline and good governance.
