OGDC remains most profitable utility

Data for FY 2020 shows Qesco leads loss-making entities

ISLAMABAD:

The Oil and Gas Development Company (OGDC) remained the biggest profitable public sector entity in the financial year 2020 with Rs100.8 billion surplus, while the Quetta Electric Supply Company (Qesco) was the on the top of the list of the major loss-making ones with Rs108.5 billion deficit.

The finance ministry on Thursday issued a list of 10 top profit-earning and 10-top loss-making entities for the fiscal year 2020.

The cumulative sum of top-10 earners was Rs281.7 billion, while that of the top-10 loss-making firms was Rs419.6 billion.

The details showed that Pakistan Petroleum Company Limited was the second top profit-making utility after the OGDC with Rs49.4 billion surplus, followed by the National Bank of Pakistan in the third place with Rs30.6 billion.

The Government Holding (Pvt) Limited was in the fourth place with Rs29.8 billion, National Power Parks Management was fifth on the list with Rs28 billion, Port Qasim Authority was in the sixth place with Rs15.4 billion, and the National Transmission and Dispatch Company in the seventh place with Rs9.3 billion.

The Pakistan Kuwait Investment Company (Pvt) Limited was ranked eighth with Rs6.3 billion, the Faisalabad Electric Supply Company ranked ninth with a profit of Rs6.08 billion, and the Pakistan Agricultural Storage and Services

Corporation Limited was ranked 10th with a Rs6.02 billion surplus.

Among the companies in the red, the National Highway Authority closely followed Qesco, with incurring Rs94.3 billion losses. The Pakistan Railways came in third with Rs50.2 billion deficit, and the Sukkur Electric Power Company ranked fourth with Rs40.8 billion.

The Pakistan International Airlines was in the fifth place with Rs36.7 billion loss, the Sui Southern Gas Company Limited was in the sixth place with Rs21.4 billion, and the Pakistan Steel Mills was in seventh place with Rs20.6 billion.

The Hyderabad Electric Supply Company came in eighth with Rs17.7 billion deficit, followed by the Pakistan State Oil in the ninth position with Rs14.8 billion and the Peshawar Electric Supply Company in the 10th place with a loss of Rs14.6 billion.