Cumulative loss of five govt institutions reached Rs 1 trillion: Fawad

ISLAMABAD: Minister for Information and Broadcasting Fawad Chaudhry informed the Senate that cumulative loss of five state-owned entities has reached Rs 1 trillion.

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

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

Likewise, the total loss of Pakistan Television with 10,000 employees was around Rs 7.5 billion while that of Pakistan Broadcasting Corporation was Rs. 5.65 billion, which was earning only Rs 450 million per annum, he added.

Pakistan Railways, Fawad said, has total 78,000 employees and its losses had accumulated to Rs 147 billion.

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

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

During a National Assembly session on Sep 27, Fawad Chaudhry had in a strong outburst against former opposition leader Khusheed Shah, saying the former ruler(s) bankrupted the country and ‘they must be hanged upside down’ for this crime.

Fawad rose to speak in the House in response to a speech earlier made by Pakistan People’s Party senior parliamentarian Khursheed Shah.

‘I suggest the Prime Minister to order hanging of these culprits upside down, because of what they did to the country,” he told the House.

Speaker Asad Qaisar intervened as the minister lost his cool, and asked the lawmaker to control his emotions and refrain from remarks that are against the assembly conduct. He also ordered expunging a few remarks of the information minister.