A recent report from the Ministry of Monetary, Economic Stabilization, and National Policy reveals a significant turnaround for 52 major government-owned institutions, collectively posting a profit of 311.5 billion rupees in the first eight months of 2023.
This marks a remarkable shift from the same period in the previous year, where these institutions incurred a loss of 726.9 billion rupees. The report suggests a successful transformation of losses into profits during the stated period.
Breaking down the numbers, 38 out of the 52 government institutions reported a pre-tax profit of 338.5 billion rupees, while the remaining 14 institutions recorded a net loss of 27 billion rupees. Notably, the Petroleum Regulatory Corporation played a pivotal role in contributing 26.2 percent to the overall profit achieved by government agencies.
Several factors contributed to this positive financial performance, including increased revenue from water, electricity, fuel charges, and various reform measures implemented by the government.
