Cumulative loss of 5 govt institutions has reached Rs1tr, Fawad tells Senate | Pakistan Today

Cumulative loss of 5 govt institutions has reached Rs1tr, Fawad tells Senate

ISLAMABAD: Minister for Information and Broadcasting Chaudhry Fawad Hussain Wednesday informed the Senate that cumulative loss of five government institutions had reached Rs 1 trillion.

Speaking in the House, the minister said the Pakistan International Airlines (PIA) had a total of 14,800 employees and its total financial loss till date was around Rs 356 billion. The national airline suffered a loss of Rs 45 billion only in the year 2017, he added.

Similarly, the total loss of Pakistan Steel Mills with 17,000 employees had reached Rs 200 billion, the minister said.

“Likewise, the total loss of Pakistan Television (PTV) with 10,000 employees as of today was around Rs 7.5 billion, while that of Pakistan Broadcasting Corporation (PBC) was Rs5.65 billion, which was earning only Rs 450 million per annum,” he added.

Pakistan Railways, Fawad said, had a total of 78,000 employees and its losses had accumulated to Rs147 billion.

The minister said that he had no personal grudge against anyone. However, it was poor who were suffering because of the losses being endured by the state institutions.

He alleged that Senator Mushahidullah Khan had used his influence for induction and elevation of his relatives in the PIA.



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