ISLAMABAD – Utility Stores Corporation Board of Directors ChairpersonZulqarnain Ali Khan has disclosed that the Public Sector Enterprises arecausing $15 billion losses to the national exchequer.
Around 134 to 140 state-run institutions are wasting public money,including the PIA, Pakistan Post and Utility Stores Corporation ofPakistan, Khan said while addressing a press conference in Islamabad onMonday.
“PIA’s losses reached to Rs380 billion, Pakistan Post Office’s to Rs40billion while Utility Stores Corporation is causing a loss of Rs8 billionannually,” he said.
When asked about his performance as the head of the USC board of directors,he said that complex rules and regulations are the main hurdle in improvingthe system in Pakistan.
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“I have no magic stick but I have to have the right people on board forbetter delivery,” he said, adding that Prime Minister Imran Khan is takinga keen interest in restructuring of the USC.
