Staff Report
ISLAMABAD: Caretaker Foreign Minister Jalil Abbas Jilani on Monday lauding the “bold decisions” of the caretaker government on economic and foreign policy fronts thanked the colleagues and cabinet members for their tireless efforts to serve the national cause.
The foreign minister, in a series of posts on his X timeline, called it a “great honour” to serve Pakistan and its people.
He said that despite confronting various challenges, on the economic and foreign policy front, the caretaker government under the leadership of Caretaker Prime Minister Anwaar-ul-Haq Kakar took bold decisions, to stabilize the economy, avert a major crisis in the country’s neighbourhood and demand global action against climate change.
The interim government also called for an end to the unimaginable violence orchestrated by Israel in Gaza and send relief goods to our Palestinian brothers and sisters, he added. “As we complete our constitutional mandate and hand over to a new government, I would like to appreciate the hard work, dedication, and commitment of all my cabinet colleagues who worked tirelessly for the national cause,” the foreign minister remarked.
He expressed gratitude to the officers of the Foreign Office who supported him and continued to lead by example both at home and abroad, showcasing the very best that Pakistan has to offer. The outgoing interim foreign minister also wished the incoming government the very best as “it sets out to serve the people of Pakistan who long for political and economic stability, good governance, peace, and harmony.”
Earlier, Caretaker Federal Minister for Information, Broadcasting and Parliamentary Affairs Murtzaz Solangi informed the Senate on Monday that the government had taken multiple steps to reduce losses in State-Owned Enterprises (SOEs). Winding up the debate on a motion moved by Senator Mushtaq Ahmed regarding the performance of SOEs, which according to a World Bank report is worse in Asia, he said further reforms, including the restructuring of the loss-making institutions would be decided by the newly elected government and the Parliament.
The minister said “There is consensus on the need to end losses in State-Owned Enterprises (SOEs); however, there are differing opinions. Some believe that privatization is the sole solution, while others argue for professional management to enhance their efficiency.” He said “The final decision on this matter will be made by the elected government and the parliament,” adding that more than 200 institutions were currently experiencing losses, including those in the power, communication sectors, and Pakistan Railways. According to a report from the Ministry of Finance, he said, these institutions had incurred losses amounting to Rs730 billion. However, profitable institutions earned an overall income of Rs570 billion, he added.
He informed the House that the net loss was approximately Rs160 billion, with sectors such as power, Pakistan International Airlines (PIA), National Highway Authority (NHA), Railways and Steel Mills contributing to these losses.
He highlighted that losses incurred by the NHA alone were close to Rs170 billion. A policy regarding SOEs was approved in September 2023 to assess their performance, with the Ministry of Finance establishing a Central Monitoring Unit for this purpose. Furthermore, amendments have been made to laws for reforms in various institutions, including NHA, the Minister informed the Senate. Senator Mushtaq Ahmed claimed that 50 percent of Pakistanis were living below the poverty line and facing high inflation. Senator Sania Nishtar asked for the privatization of the loss-making SOEs to avoid burden on the national exchequer.
