Federal Footprint Soes Annual Report

Implementation
and Economic Reforms Unit

Ministry of Finance, Islamabad
Tel: 051-9217854
www.finance.gov.pk
FY 2019
VOL 1: COMMERCIAL SOEs
March 2021
FEDERAL FOOTPRINT
SOEs ANNUAL REPORT

TABLE OF CONTENTS
LIST OF ABBREVIATIONS ______________________________________________________________________________ 2

LIST OF TABLES __________________________________________________________________________________________ 3
FOREWORD ______________________________________________________________________________________________ 4
PORTFOLIO OVERVIEW ________________________________________________________________________________ 5
EXECUTIVE SUMMARY ________________________________________________________________________________ 11
INTRODUCTION _______________________________________________________________________________________ 12
Year in Review - Financial _____________________________________________________________________________ 13
Year in Review - Infrastructure, Transport and ITC _________________________________________________ 17
Year in Review - Manufacturing, Mining & Engineering ____________________________________________ 21
Year in Review - Oil & Gas _____________________________________________________________________________ 25
Year in Review - Power ________________________________________________________________________________ 29
Year in Review - Industrial Estate Development ____________________________________________________ 33
Year in Review - Trading and Marketing _____________________________________________________________ 37
Year in Review - Miscellaneous _______________________________________________________________________ 41
ANNUAL GoP SUPPORT _______________________________________________________________________________ 45
ANNEXURES ____________________________________________________________________________________________ 47
Annexure 1: Methodology, Assumptions and Limitations ____________________________________________________ 47
Annexure 2: List of Federal Authorities & Regulatory Bodies not Covered in the Report __________________ 48
Annexure 3: Commercial SOEs under Admnistrative Ministries _____________________________________________ 50
Annexure 4: List of SOEs and Subsidiaries _____________________________________________________________________ 53
LIST OF ABBREVIATIONS
Board of Directors BOD

Cash Developmental Loan CDL
China-Pakistan Economic Corridor CPEC
Corporate Governance Rules CGR
Corporate Restructuring Act CRA
Current Account Savings Account CASA
Development Finance Institutions DFIs
Electricity Distribution Companies DISCOs
Engineering Development Board EDB
Enterprise Resource Planning ERP
Exploration and Production E&P
Fiscal Responsibility and Debt Limitation FRDL
Government of Pakistan GoP
High Speed Diesel HSD
Implementation and Economic Reforms Unit IERU
Joint Ventures JV
Long Term Evolution LTE
Ministry of Finance MoF
Non-Banking Finance Company NBFI
Power Generation Companies GENCOs
Public Sector Development Program PSDP
Re-gasified Liquified Natural Gas RLNG
Regional Planning Council RPC
Small and Medium Enterprises SMEs
Special Economic Zones SEZs
State-Owned Enterprises SOEs
Twenty Equivalent Units TEUs

2

LIST OF TABLES
Table 1: Foreign Loans Disbursed During the Year to Commercial Entities ................................................................. 45
Table 2: Domestic Loans Disbursed During the Year to Commercial Entities ............................................................. 45
Table 3: Subsidies During the Year to Commercial Entities ................................................................................................. 45
Table 4: Equity Investments During the Year ............................................................................................................................. 45
Table 5: Guarantees Issued During the Year ............................................................................................................................... 45
Table 6: Dividends Received by GOP from commercial SOEs .............................................................................................. 46
Table 7: Finance Division Information Template for SOEs ................................................................................................... 47
3

FOREWORD
State-owned Enterprise (SOE) refers to commercial and non-commercial public-sector corporations, Development
Finance Institutions (DFIs), authorities and Public Sector Companies (PSCs) as defined in the Public Sector Corporate
Governance Rules. SOEs are siginicant players in Paksitan’s economy and continue to hold dominance in the provision
of public goods and services, particularly in power, aviation, railways and energy sectors. SOEs also opereate in sectors
where the private sector is reluctant to operate due to low profit margins. Due to their size and dominance in key
economic sectors such as power, transport and financial, their finncial and opetrational performance has a significant
impact on the economy as a whole as well as on the the quality of lives of citizens. Hence, it is crucially important for
the government to effcetively monitor the performance of its SOE portfolio in a transparent manner.

This is the Sixth edition of the “SOEs: Federal Footprint Report” tracking the performance of State-Owned Enterprises
owned and controlled by the Government of Pakistan. After the review of the previous editions and feedback received
by different stakeholders, FY 2017-18 report had been compiled with several improvements in reporting structure but
without compromising transparency and disclosure of important financial information. This report follows the format
of last year, whereby it was divided in two distinct volumes, one for commercial SOEs and the other for non-commercial
SOEs. The aim is to report the performance of the two segments distinctly, ensuring that commercial SOEs are evaluated
on financial and operational measures while the non-commercial SOEs are evaluated by their achievements against
socio-economic objectives. It is hoped that the readers of the report will find this arrangement helpful in analyzing and
assessing core performance of the different SOE categories. This report reclassifed SOEs into sectors which meaningfully
reflect the nature of SOEs’ operations; and consolidation of subsidiaries’ financial information with their holding
companies. To enhance reader-friendliness, emphasis has moved to graphical presentation of data in addition to
tabulations. Additionally, the report goes beyond simply highlighting the financial performance of SOEs and includes
observations on legal and administrative structures, corporate governance practices, financial support provided by the
GoP, and profiling of human resources.

This report, from data collection, compilation to final analysis, was undertaken by the Implementation and Economic
Reforms Unit (IERU) of Finance Division with the technical support from World Bank. The report is intended to provide
the readers key financial and non-financial information about the SOE portfolio, enhance transparency and improve
accountability.

The IERU team has greatly benefited from the guidance of Dr. Ishrat Hussain, Special Adviser to Prime Minister on
Institutional Reforms and Austerity particularly in improving the reporting structure of this version. Due credit also goes
to Dr. Abdul Hafeez Sheikh, Adviser to the PM on Finance and Revenue for his overall guidance and oversight during the
entire process of compilation of this report. Moreover, the support and guidance of Mr. Kamran Ali Afzal, Finance
Secretary was extremely helpful throughout the process and is greatly appreciated.

Finally, it is commendable effort by all federal ministries for their participation, SOEs for their extensive inputs and
World Bank consultants for their valuable suggestions and support, without which the report would not have been
possible. Several officials in Finance Division in general, and Mr. Zafar Iqbal, Research Officer in particular have
significantly contributed to compilation of data and finalization of this report. It is hoped that the report will provide
insights and stimulate useful discussions that will benefit further SOE reforms in the country leading to improved
financial performance and better service delivery for all citizens in the years to come.

(Dr. Imran Ullah Khan)
Director General
Implementation and Economic Reforms Unit

4

PORTFOLIO OVERVIEW
The Government of Pakistan’s (GoP) commercial State-Owned Enterprises (SOEs) portfolio contains 87 entities, mainly
in the power, energy, financial, manufacturing, transportation, and trading sectors. These entities are expected to be at
least self-sustainable and provide high-quality services. Out of the 87 commercial enterprises, 10 are also listed on the
Pakistan Stock Exchange (PSX). These entities were established at different points in time and for different reasons, and
there is significant variation in their operations. Some have been formed primarily for commercial trading reasons such
as the Pakistan LNG Limited (PLL) while others have been formed to undertake predominately social service delivery,
such as ensuring food security through the Trading Corporation of Pakistan (TCP) and Pakistan Agricultural Storage
Services Corporation (PASSCO).

An overview of financial and non-financial performance of the commercial SOE’s is given below. All numbers are in Rs.
million (except HR, BoD and entity number) and all figures/tables reflect data for FY 2019 unless explicitly stated
otherwise.

Commercial SOE Classification Scheme

Commercial
Infrastructure Manufacturing, Industrial

Trading &
Financial Transport & Mining & Oil & gas Power Estate Miscellaneous
Marketing
ITC Engineering Development
Ports & Metals & Exploration & Media

Banks DISCOs Trading
Shipping Mining Development Entertainment
Roads & Engineering Marketing & Agriculture

NBFIs GENCOs Other Services
Highways Consultancy Distribution Storage
DFIs Refineries Promotion &

Aviation Printing Transmission Chemicals
Advocacy
Insurance Communnicat
Management
ion
Railways
5

Commercial SOEs Sectoral Classification SOEs Incorporation Classification
Financial
Infrastructure,
6 Transport & ITC
4 18
4 Manufacturing,
Mining & Engineering
Oil & Gas 16 Established through
Enactment
Power
21 12 Under the Companies
Act 2017
Industrial Estate 71
Development
Trading & Marketing
8 14
Miscellaneous
Board - Gender Classification Commercial SOEs HR Classification
16,334 10,973
24,423
48,412
Executives
Officers
Staff
Contractuals
Daily Wages
Executive Non-Executive Independent
Female 7 16 15
315,528
Male 134 298 179
Dividends Reciept to GOP

Dividend Reciepts to GOP Commercial SOEs Total HR
(Rs. million) 418,173
1,897 Oil & Gas 417,027
415,544 415,670
1,159 Financial
200
51,601 5,068 229 Power 4,930
4,033 464
300 Trading &
52,099 Marketing 396,396
369 140 138
Infrastructure,
Transport & ITC
Oil & Gas Financial
Manufacturing,
Power Trading & Marketing Mining &
Engineering
Infrastructure, Transport & ITC Manufacturing, Mining & Engineering FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
6

Revenue - Sectorwise Classification
2,908,720
1,887,873
374,315 429,491
23,728 2,712 62,878 17,303
Financial Infrastructure, Manufacturing, Oil & Gas Power Industrial Estate Trading & Miscellaneous
Transport & ITC Mining & Development Marketing
Engineering
Revenue - Subsectorwise Classification
1,908,836
1,399,513
682,934
316,949 360,220
121,713 25,434 221,173 164,646 56,631
30,671 29,674 41,989 86,151 27,299 31,979
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Total Assets - Sectorwise Classification
7,846,261
5,347,626
4,904,379
2,646,036
496,738 297,530
17,339 28,713
Financial Infrastructure, Manufacturing, Oil & Gas Power Industrial Trading & Miscellaneous
Transport & Mining & Estate Marketing
ITC Engineering Development
7

Total Assets - Sub sectorwise Classification
4,435,758
3,369,211
2,713,771 2,747,632
1,983,044
1,435,175
1,151,785 1,046,461
336,868 249,034 298,799 358,184 401,813
46,515 5,851 164,401
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Profit and (Loss) - Sectorwise Classification

242,022
13,352 46
(12,968) (394) (1,746)
(117,282)
(266,634)
Financial Infrastructure, Manufacturing, Oil & Gas Power Industrial Estate Trading & Miscellaneous
Transport & ITC Mining & Development Marketing
Engineering
Profit and (Loss) - Sub sectorwise Classification

212,024
4,417 6,632 4,569 2,315 12,335 17,663 14,436 11,236 98
(2,266) (6,738)
(32,299)
(56,121)
(143,052)
(173,792)
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8

Top Ten Profit Making Companies (Rs. Million)
FY2019 FY2018
1 OGDCL 118,386 OGDCL 78,737
2 PPL 59,459 PPL 45,826
3 GHPL 34,179 GHPL 28,069
4 NPPMCL 18,993 NBP 20,016
5 NBP 16,647 PARCO 18,517
6 PARCO 12,335 PSO 15,462
7 NTDC 11,236 NTDC 14,736
8 PSO 10,587 SNGPL 11,121
9 SNGPL 7,076 PQA 6,779
10 GEPCO 6,496 NPPMCL 3,283

Top Ten Loss Making Companies (Rs. Million)

FY2019 FY2018
1 NHA (173,792) NHA (140,748)
2 PIAC (56,121) PIAC (66,827)
3 QESCO (36,832) LESCO (56,635)
4 LESCO (31,621) PESCO (44,521)
5 PESCO (29,263) FESCO (39,771)
6 MEPCO (22,782) Pakistan Railways (36,622)
7 ZTBL (18,153) MEPCO (33,825)
8 PSM (16,550) IESCO (27,337)
9 SEPCO (10,956) QESCO (24,255)
10 Pakistan Post Office (9,135) HESCO (21,701)
SOEs Net Pofit/(Loss) FY 2014-19

Rs. Billion
204
61
2013-14 2014-15 2015-16 2016-17 2017-18 2018-19
(187)
(143)
(237)
(286)
9

List of SOEs with Major Changes in Net (Loss) 2018-19
Rs. Million
Change Change
Entity Name FY 2018 FY 2019
(%) (Absolute)
Faisalabad Electric Supply Company
1 (39,771) (8,057) -80% 31,714
Limited
2 Lahore Electric Supply Company
(56,635) (31,622) -44% 25,013
Limited
3 Islamabad Electric Supply Company
(27,337) (7,593) -72% 19,744
Limited
4 Hyderabad Electric Supply Company
(21,701) (6,753) -69% 14,948
Limited
5 Peshawar Electric Supply Company
(42,986) (29,263) -32% 13,723
Limited
6 Multan Electric Power Company Limited (33,825) (22,782) -33% 11,043
7 Pakistan International Airlines
(66,827) (56,037) -16% 10,791
Corporation
8 GENCO-II: Central Power Generation
Company Limited, Thermal Power (3,836) 3,517 -192% 7,353
Station, Guddo
9 Pakistan Railways (36,622) (32,769) -11% 3,853
10 Pakistan Post Office (10,500) (9,135) -13% 1,365

List of SOEs with Major Changes in Net Profit 2018-19

Rs. Million
Change Change
Entity Name FY 2018 FY 2019
(%) (Absolute)
Oil and Gas Development Company
1 78,737 118,386 50.4% 39,649
Limited
2 National Power Parks Management 3,283 18,993 478.5% 15,710
3 Pakistan Petroleum Limited 45,826 59,459 29.8% 13,633
4 Government Holdings (Private) Limited 28,069 34,179 21.8% 6,110
5 Tribal Electric Supply Company Limited 1,766 4,309 144.0% 2,543
10

EXECUTIVE SUMMARY
For the purpose of this report, the entities with sufficient revenue streams to cover their operational cost are categorized
as commercial SOEs. These include companies registered with SECP under sections other than 42 of the Companies Act
2017 as well as the entities established through special enactments which are expected to be financially self-sustainable
like Paksitan Railways and Pakistan Post Office.
It is encouraging to note that the overall losses of the SOE portfolio have significantly reduced in FY 2019 as compared
to FY 2018. The overall losses were the highest in FY 2018 amounting to Rs. 286 billion, which were curtailed to Rs. 143
billion in FY 2019. This improvement in the financial performance of SOEs was mainly due to the reduction of losses in
power sector (see tables on Page 10 for major changes in net profit/(loss) of selected SOEs during FY 2018-19).

Power sector has the largest number of commercial SOEs, with 21 entities, and has the largest share of assets within the
SOE portfolio, amounting to over Rs. 7.8 trillion in FY2019. These companies range from power generation to
distribution, transmission, management and trading. Financial sector SOEs are next in the list having 18 entites with the
third largest share of total portfolio of assets.

Commercial SOEs employ 415,670 workforce including officers and executives. Sub-sectoral wise, distribution
companies continue to lead in employment opportunities with 114,253. In terms of overall employement, 71.5 percent
of all employees are non management staff, while 15.8 percent are officers’ level. Less than 3 percent of the total
employees are executives while another 3.9 percent are daily wage earners.

In FY 2018-19 net loss of SOE portfolio was Rs. 143.6 billion which was significnatly lower than the net losses recorded
in FY 2018 amounting to Rs. 285.8 billion. The decrease in losses was mainly due to improvement in financial
performance of some of the major loss-making entities leading to lower fiscal risks for the federal government.

Despite significant reduction in net losses, the Government of Paksitan needs to continue its reform efforts to further
cutrail the losses in SOEs. It is imperative that commercial SOEs achieve positive financial returns on the back of prudent
expenditure management, improved revenues and efficient use of resources such as staff, capital and assets.

Sub-Sector 1 Sub-Sector 2 Sub-Sector 3 Sub-Sector 4 Sub-Sector 5

Financial Banks NBFIs Insurance DFIs
Infrastructure, Transport & Ports & Railways Roads & Aviation Communication
Communication Shipping Highways
Manufacturing, Mining & Metals and Engineering Printing
Engineering Mining Consultancy
Oil & Gas Exploration & Refineries Marketing &
Development Distribution
Power DISCOs GENCOs Transmission Management

Industrial Estate Development Industrial Estate Development

Trading & Marketing Trading Agricultural Chemicals
Storage
Miscellaneous Media Other Services Promotion &
Entertainment Advocacy
11

INTRODUCTION
Although SOEs operate in all countries and in every type of economy, there has been a persistent debate over the
rationale of presence of SOEs in a market economy. Generally, this discussion is largely focused on the question of
‘efficiency’ of an entity if it operates in the public sector as compared to its performance if managed by the private sector.
Following a more common observation that as the incentive structure in the public sector is poorly designed for a
commercial activity, the private sector is considered to play the dominant role in commercial decision-making while the
role of government needs to be limited to provisioning of essential institutions and infrastructure for the market to
operate at its optimal level. Even in cases of any ‘market failure’, the government must intervene to the extent of
addressing the market failure and not to undertake an otherwise commercially feasible economic activity.

The presence of a large number of commercial SOEs in Pakistan needs to be examined in the historical background of
evolution of markets and institutions in this country. While peculiar market conditions required intervention by the
state and undertaking an economic activity by itself through an SOE was a readily available solution, the dynamic
structure of the market pushed for establishing more SOEs. As a result, a number of commercial SOEs were established
from time to time, but the winding up or privatization of redundant SOEs remained a slow process thereby leading to a
large portfolio of SOEs with limited justification for continued presence of several entities.

Another area of concern about the SOEs portfolio in Pakistan is their poor financial performance leading to their low
quality of service delivery and their dependence on government support and finances to sustain. The poor management
and weak governance structures led to several entities into losses which were erstwhile profitable businesses like
Pakistan Railways and Pakistan International Airlines. Similarly, poor management and delay in required policy reforms
led to serious liquidity problems in the power sector.

This report is not intended to address all the questions surrounding the SOE portfolio in Pakistan. Nor is there sufficient
data and information in this report to completely capture the policy issues and governance challenges having a bearing
on the performance of SOEs. As such, evaluation of the performance of SOEs only through key financial and management
information which form part of this report can be misleading unless the operations of each SOE are appropriately
contextualized.

Despite its limitations, as highlighted above, the information collected and compiled in this and earlier reports serve as
a ready reference for sequential quantitative information for further examination and analysis by policy makers,
researchers, and other stakeholders. Based on the feedback and comments from the valuable readers of the earlier
reports, an effort has been made to improve the structure and presentation of the data in this report as compared to
previous versions. For appropriate sequential data examination, the following aspects of this report as compared to
previous versions need to be duly considered:
a) The information of commercial subsidiaries has been consolidated with their holding companies which were
erstwhile separately and individually reported. The purpose of this consolidation is to make the data more
precise and give the readers a better view of the performance of the holding company
b) The SOEs are grouped into 7 sectors according to their market operations while the left-over entities are
grouped as ‘miscellaneous’. For further ease of the readers, sub-sector level information has also been reported.
Further improvements in data collection and reporting shall be made in future as well. The valuable feedback and
suggestions of users of this report will be highly appreciated to make future reporting even better.
12

YEAR IN REVIEW
Financial
This category includes Banks, Insurance Companies, Non-Banking
Financial Institutions (NBFIs), and Development Finance Institutions
(DFIs). No new SOE or its subsidiary is added to this sector in current
Financial Year. This Sector has overall observed a Rs. 374 billion of net
income which is 22 percent higher than last year.
The financial sector comprises Banks, NBFIs, DFIs and Insurance

companies. Ministry of Finance is the administrative ministry for Financial (18)
banks, DFIs and NBFIs and Ministry of Commerce is
administrative ministry for Insurance companies, whereas, State
Bank of Pakistan (SBP) plays the important function of regulatory Insurance Banks NBFI DFIs
oversight. (3) (5) (3) (7)
Although the net profit of this sector declined in FY2019 as compared to FY2018, the financial sector remained profitable, posing no
fiscal risk for the Government. On a year-on-year basis, both the insurance companies and commercial banks showed an increase in
revenues and profitability. DFI’s, in turn, reported their highest net profit of Rs. 6.6 billion during the year. All GOP owned banks and
insurance companies remained compliant with statutory capital requirements and played their part in providing capital to the
unbanked population (such as the SME bank, NBP and ZTBL) and bringing efficiencies to capital markets.

Revenue - Financial Sector

(Rs Million) Sub Sector - Net Profit/(loss)
(Rs. million)
121,713 30,000
25,000
20,000
Banks
15,000
NBFIs 10,000
DFIs 5,000
221,173 Insurance -
5,995 FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
(5,000)
25,434
Banks NBFIs DFIs Insurance
13

HR-Age Segregation Staffing
3315
5817
42 220
9,384
18,140
18182
Below 40 Above 40 Executive Officers Staff Contract Labor Daily Wages

15 out of 18 SOEs in this category were profitable in FY NATIONAL BANK OF PAKISTAN
2018-19 with the aggregate net profit amounting to Rs. 33 (NBP)
Billion. National Bank of Pakistan (NBP) remained the

largest profitable company with the net profit of Rs. 16. 6
Billion, contributing 50% to the aggregate profits; other
two leading profitable companies in this category are Pak National Bank of Pakistan passed the PKR 3.0 trillion mark in
Kuwait Investment Company (Private) Limited and House terms on Total Assets at end of FY 2019. Total assets closed
Building Finance Company Limited with the net profits of at PKR 3,124.4 billion, illustrating 11.6 percent growth from
Rs. 4.7 Billion and Rs. 2.7 Billion respectively. Only three PKR 2,798.6 billion a year before. Additionally, the bank got
loss-making SOEs in this group have combined net losses its “AAA” credit rating, the highest for any commercial bank
of Rs. 19.6 Billion, and ZTBL remains the largest loss- in Pakistan. At the end of 2019, both the common equity tier-
making company among financial SOEs with net loss of Rs. 1 ratio and the total capital ratio stood at 12.11 percent and
18.2 Billion in FY 2018-19. 15.48 percent, respectively. Both of the ratios were1.5
percent over the minimum threshold as specified by the SBP.

PAKISTAN REINSURANCE COMPANY
LIMITED (PAKRE)

The role of the PakRe in Pakistan's economic development is significant. PakRe’s understanding of the rising insurance and
reinsurance requirements of the economy and is responsible to cope up with national demands. In this regard, PakRe acts as a
re-insurer of prestigious public sector companies such as NICL, PSO, OGDCL, PPL, PNSC, KSEW etc. The scope of services of PakRe
falls in consolidating the position, both at home and abroad, and promoting further expansion. The company witnessed overall
improvement in the profitability of the company. Where the gross premium for FY 2019 amounted to Rs. 17.6 billion, marking
an increase of 64.5 percent from the previous year. The company realized an increase of Rs. 5.8 billion in gross revenues from
public sector companies during the year to Rs. 10.2 billion, an increase of 134 percent from last year.
14

Sector Snapshot – Financial
Financial
Total number of SOEs 34
Total number of Independent Companies 18 53%
Total number of Subsidiaries 16 47%
Total number of Board of Directors 186

Total number of Executive Directors 40
Total number of Non-Executive Directors 100
Total number of Indpendent Directors 46
FY2017-18 FY2018-19 % Change

Total Employees 35,269 28,820 -18.3%
Total Employees below 40 years 15,216 10,420 -32%
Total Employees above 40 years 20,053 18,400 -8%
Lendnigs 284,117 202,738 -29%

Invevstments 2,223,078 2,492,579 12%
Other Assets 223,470 460,966 106%
Total Assets 4,124,788 4,904,379 19%
Deposits and Other Accounts 2,937,592 2,282,041 -22%
Total Liabilities 3,761,764 4,444,353 18%
Total Equity 360,821 460,027 27%
Net Income 307,530 374,315 22%

Operating Profit/(Loss) 43,816 24,471 -44%
Net Profit/(Loss) 28,077 13,352 -52%
Net Profit/Loss Margin 9% 4% -61%

Return on Assets 1.26% 0.54% -58%
Total Dividned Paid to GOP 4,033 1,897 -53%
Foreign loans disbursed during the year - - -

Domestic loans disbursed during the year - - -
Total subsidies disbursed during the year - - -

Total equity injection during the year - - -
Total Loans Outstanding 6,825 11,908 74%

Total Guarantees Outstanding 65,700 65 -100%

Note: Except for Total Number of SOEs, Total Number of Board of Directors (BoDs) and Total Employees, all other numbers
are in Rs. Million.
15

List of Entities – Financial Sector
FINANCIAL
Banks Entity ID
Zarai Taraqiati Bank Limited 1
- Kissan Support Services (Private) Limited
SME Bank 2
- SME Leasing Limited
Industrial Development Bank Limited 3

- Pakistan Industrial Development Financial Services (Private) Limited
National Bank of Pakistan 4

- NBP Leasing Limited
- CJSC Subsidiary Bank of NBP in Kazakhstan
- CJSC Subsidiary Bank of NBP in Tajikistan
- First National Bank Modaraba, Pakistan
- NBP Exchange Company Limited
- NBP Modarabah Management Company Limited
- Taurus Securities Limited
- NBP Fund Management Ltd (Formerly: Fullerton Asset Management Limited)
- Cast-N-Link Products Limited
First Women Bank Limited 5

NBFI’s
House Building Finance Company Limited 6
Exim Bank of Pakistan Limited 7
National Investment Trust Limited 8
DFI’s
Pak China Investment Company Limited 9
Pak Iran Investment Company 10
Pak Libya Holding Company (Private) Limited 11
Pak Oman Investment Company 12
Pak Kuwait Investment Company (Private) Limited 13
Pak Brunei Investment Company 14
Saudi Pak Industrial and Agricultural Investment Company Limited 15
Insurance
State Life Insurance Corporation 16
- Alpha Insurance Company Limited
- State Life (Lakie Road) Properties (Private) Limited
- State Life (Abdullah Haroon Road) Properties (Private) Limited
National Insurance Company Limited 17

- Civic Centre Company (Private) Limited
Pakistan Reinsurance Company Limited 18
16

YEAR IN REVIEW
Infrastructure, Transport &

ITC
This category includes Ports & Shipping, Railways, Road & Highway, Aviation,
and Communication. No new sub-category or subsequent SOE add in this
sector.
The Infrastructure, Transport & ITC sector comprises of Ports & Infrastructure, Transport & ITC (12)
Shipping, Railways, Roads & Highways, Aviation, and
Communication companies. They are under purview of M/o Ports
& Shipping, M/o Railways, Aviation Division, M/o Communication, Communi Ports& Roads and
and M/o Information Technology and Telecommunication. Railways Aviation
cation Shipping Highways
(1) (1)
(3) (4) (3)
This sector performed well in current year depicting 16 percent increase in net revenue bringing it to Rs. 297.8 billion. The dividends
realized for government from this sector rose to Rs. 4.9 billion in the current year. Furthermore, this sector also saw an influx of loans
for roads and highway projects with total foreign lending increased by 136 percent and reaching up to Rs. 154,529. Maximum
revenues came from sub sector Aviation due to overall improvement in revenue stream generated by Pakistan International Airlines
(PIA).
Revenue - Sub Sectors Net Profit/(Loss) - Sub Sector

(Rs.Million)
55,881 FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
30,671
-
Ports & Shipping
29,674
(50,000)
Roads & Highways
18,326 (100,000)
Aviation
(150,000)
Communication
Railways Ports & Shipping Roads & Highways Aviation

164,646 Communication Railways
17

HR - Age Segregation Staffiing
468 559
8513
4439
64,695
86,358
114855
SOEs in this category fall in five sub-sectors with serious

financial and operational implications for the entire economy. NATIONAL HIGHWAY AUTHORITY
Among the majors companies, apart from PTCL and PNSC,
which returned combined net profit of Rs. 4.5 Billion, other
SOEs i.e., National Highway Authority (NHA), Pakistan
International Airline (PIA) and Pakistan Railways (PR) National Highways Authority is the custodian of 39 national
incurred net losses of Rs. 173 Billion, Rs. 56 Billion and Rs. 36 highway/expressways/strategic routes spanning a total
Billion, respectively, adversely impacting the profitability of the length of 12,131 km. Although, it is 4.6 percent of the total
national road network, however it sustains 80 percent of
entire SOE portfolio. Furthermore, a cursory glance at the
commercial traffic and N-5, which is the premier trade
nature of operations of NHA, PIA and PR reveals that the losses route of of Pakistan, is responsible for 65 percent freight
may partially be attributed to various public service obligations movement in the region. As custodian of the Highway assets
that these SOEs discharge. However, despite the heavy losses of Pakistan's road network, NHA is committed to providing
incurred by the SOEs in this sector; they remain leading a secure, modern and effective transportation system. In
employment provider. addition, the collection of toll and duties for using the
infrastructure also falls under the domain of NHA, as well
as researching for new and effective ways to plan strategic
routes to facilitate trade and transportation in Pakistan.

KARACHI PORT TRUST

PAKISTAN INTERNATIONAL AIRLINES
During the FY 2019, the Panama flag vessel "CHEMTRANS 1"
was rescued and towed to port by KPT for 11 nautical miles
under severe monsoon weather that avoided an inevitable PIA had been using the SABRESONIC system for the past 19
catastrophe, i.e., grounding and pollution. The SOS signal of years which required upgradation with the adoption of
CHEMSTRANS 1 was received at KPT 'Crisis Management newer technologies and changing consumer demand. Thus,
Centre' reporting a breakdown of Engine and a loss of both in 2019, PIA adopted to the state-of-the-art Crane
Anchors due to bad weather and confirmed a rapid drift Passenger Service System. The financial impact of the
towards shore with 12 Indian crewmen on board. upgradation of the software resulted in savings for the
In addition, the deepening of channels to accommodate deep company and less waiting time for consumers. PIA also
draft vessels at all tides is the first step in the KPT’s vision to revamped its website to enhance their customer interface
transform the port into a modern, competitive and user- and ensure simpler and effective service. Additionally, PIA
friendly port, which would also be a transshipment hub of also introduced their application for mobile devices
the region. reducing costs and boosting sales

18

Sector Snapshot – Infrastructure, Transport and ITC

Note: Except for Total Number of SOEs,
Total Number of Board of Directors (BoDs) and Total Employees, all other numbers
are in Rs. Million.
19

List of Entities – Infrastructure, Transport and ITC
INFRASTRUCTURE, TRANSPORT AND COMMUNICATION
Ports & Shipping
Karachi Port Trust 19
Pakistan National Shipping Corporation 20
- Bolan Shipping (Private) Limited
- Chitral Shipping (Private) Limited
- Hyderabad Shipping (Private) Limited
- Islamabad Shipping (Private) Limited
- Johar Shipping (Private) Limited
- Kaghan Shipping (Private) Limited
- Karachi Shipping (Private) Limited
- Khairpur Shipping (Private) Limited
- Lahore Shipping (Private) Limited
- Lalazar Shipping (Private) Limited
- Makran Shipping (Private) Limited
- Malakand Shipping (Private) Limited
- Multan Shipping (Private) Limited
- Pakistan Cooperative Ship Stores (Private) Limited
- Quetta Shipping (Private) Limited
- Sargodha Shipping (Private) Limited
- Shalamar Shipping (Private) Limited
- Sibi Shipping (Private) Limited
- Swat Shipping (Private) Limited
Port Qasim Authority 21

Gawadar Port Authority 22
Railways
Pakistan Railways 23
- Pakistan Railway Freight Transportation Company (Pvt) Ltd
- Railway Constructions Pakistan Limited
- Pakistan Railway Advisory and Consultancy Services Limited
Roads & Highways

Karachi Urban Transport Corporation 24
National Highway Authority 25
Karachi Infrastructure Development Company Limited 26
Aviation
Pakistan International Airlines Corporation 27
- PIAC Investments Limited
- Skyrooms (Private) Limited
- Abacus Distribution Systems Pakistan (Private) Limited
Communication
National Telecommunication Corporation 28
Pakistan Post Office 29
Pakistan Telecommunications Company Limited 30
20

YEAR IN REVIEW
Manufacturing, Mining &

Engineering
This category includes Metals & Mining, Engineering Consultancy and
Printing. No new SOE is added to this sector in current Financial Year.


The Manufacturing, Mining & Engineering sector comprises of Engineering (14)
Metals and Mining, Engineering & Consultancy, and Printing
companies under purview of M/o Energy, M/o Industries and Metals and Engineering
Printng
Production, M/o Defense Production, M/o Climate Change, Mining Consultancy
(2)
(9) (3)
Cabinet Division, and M/o Communication respectively.
This sector showed a positive performance overall in current financial year with net losses decreased by 5 percent amounting to Rs.
12.9 billion compared to Rs. 13.8 billion last year. The major losses in this category originates from Pakistan Steel Mills (PSM). Overall,
the sector was able to generate revenue of Rs. 23.7 billion during FY 2019. In terms of profitability, the top performers of the sector
are metals and mining, followed by engineering consultancies. The engineering sector also remained the leading sub-sector in terms
of net profit.

FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
5,000
-
5,490
Metals and Mining (5,000)
(10,000)
Engineering 11,489
(15,000)
Consultancy
(20,000)
Printing
(25,000)
7,332
(30,000)
Metals and Mining Engineering Consultancy Printing
21

2297
4588
76
2095
7580
11501
10013
There are 15 SOEs in category which have cumulatively

returned net loss of Rs. 13 Billion during FY 2018-19. 7 SOEs
KARACHI SHIPYARD &
incurred losses amounting to Rs. 16.8 billion, led by Pakistan
Steel Mills that incurred net loss of Rs. 16.5 Billion; losses of ENGINEERING WORKS LIMITED

other SOEs in this group remained materially small. In
contrast, 7 SOEs recorded aggregate profit of Rs. 3.8 Billion
in the reference period, among them National Security In order to enhance the capacity for shipbuilding and
Printing Company remained the most profitable entity with ship repair activities, the installation of ship-lift and
the net profit of Rs. 1.5 Billion during FY 2018-19. transfer system is in progress. Installation is planned
to be completed by 2020. Ship lift and transfer system
will enable Karachi Shipyard to undertake
construction and repair of multiple vessels
simultaneously adding to its current capacity and
enabling more traffic to be catered at the port, opening
avenues for better trade with other countries.
NESPAK

NESPAK has developed a research and development (R&D) cell during FY 2019. The newly formed Cell has been charged
with developing detailed repositories, standard design procedures, manuals, guidelines, process documentation and
documentation for various engineering disciplines. The R&D department would also venture out into innovative tools and
analysis techniques with sister institutions to foster efficient and effective practices. NESPAK in a joint venture with ISL
Ingénierie, France, Office International de l'Eau, France, GIBB (Pvt.) Limited, South Africa and OREADEBRECHE SAS, France
has been entrusted by the Economic Community of Central African States to carry out design works for Booue and Tsengue-
Leledi Hydroelectric Projects in Gabon, Central Africa. NESPAK in a joint venture with H.P. Guaff Ingenieure GmbH & Co.
KGJBG has won the construction supervision of Kano River and Hadejia Valley Irrigation Schemes, Dam Safety and River
Training in Hadejia-Jama'are Basins. The project will be implemented by Nigeria's Federal Ministry of Water Resources and
funded by the World Bank with a total project cost of US$ 2.37 million.

22

Sector Snapshot – Manufacturing, Mining and Engineering

Note: Except for Total Number of SOEs, Total Number of Board
of Directors (BoDs) and Total Employees, all other numbers
are in Rs. Million.
23

List of Entities – Manufacturing, Mining, and Engineering

MANUFACTURING, MINING & ENGINEERING
Metals and Mining
State Engineering Corporation (Private) Limited 31
- Heavy Electrical Complex (Private) Limited
- ENAR Petrotech Services (Private) Limited
- Pakistan Machine Tool Factory (Private) Limited
- Pakistan Engineering Company Limited
Heavy Mechanical Complex (Private) Limited 32

Karachi Shipyard and Engineering Works Limited 33
Telephone Industries of Pakistan 34
Pakistan Steel Mills Corporation (Private) Limited 35
- Pakistan Steel Fabricating Company (Private) Limited
Peoples Steel Mills Limited 36

Saindak Metals Limited 37
Pakistan Mineral Development Corporation (Private) Limited 38
Pakistan Industrial Development Corporation (Private) Limited 39
- Pakistan Automobile Corporation
o Sind Engineering (Private) Limited
- Republic Motors (Private) Limited
- Morafco Industries Limited
Engineering Consultancy
Pakistan Environmental Planning & Architectural Consultants (Private) Limited 40
National Engineering Services Pakistan (Private) Limited 41
- NESPAK and Partners LLC, Muscat, Oman
- Mohammad Hisham Aitah-NESPAK, Riyadh, Saudi Arabia
- NESPAK Limited - Doha, Qatar
STEDEC Technology Commercialization Corporation of Pakistan (Private) Limited 42

Printing
National Security Printing Company (Formerly Pakistan Security Printing Corporation 43
(Private) Limited
Printing Corporation of Pakistan (Private) Limited 44

24

YEAR IN REVIEW
Oil and Gas

This category includes all SOEs in Oil and Gas Sector. This is one of the
most significant sectors in respect to state of economy. No new SOE or
its subsidiary is added to this sector in current Financial Year.
The line ministry for all SOEs in the Oil and Gas sector is M/o
Energy. The Petroleum Division of M/o Energy deals with Oil and Oil and Gas (8)
Gas sector while Power sector companies are under purview of
Power Division. Exploration & Marketing &
Refineries
Development Distribution
(2)
(3) (3)
Overall, the oil and gas companies remain the backbone of the GoP SOE portfolio and have consistently remained on the forefront of
new exploration initiatives, even in the frontier areas. It is expected that with enhanced pricing initiatives and improved law and
order situation, the oil and gas entities will fare further in the years to come. Overall, this sector witnessed 26 percent increase in
net revenue compared to last year. The net profit stands at Rs 242 billion with sub sector exploration leading with net profit of Rs.
212 billion.
Revenue Sub sectors Net Profit/(Loss) - Sub Sector

250,000
682,934
200,000
150,000
100,000
50,000
1,908,836 316,949
-
FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
(50,000)
Exploration & Development Refineries Marketing & Distribution Exploration & Development Refineries Marketing & Distribution
25

783
3192
13120
5674
27011
18863
Pakistan is successfully overcoming energy crisis, which has

direct and indirect impact on all sectors of the economy, GOVERNMENT HOLDING PRIVATE
through increase in generation as well as strengthening LIMITED
transition and distribution capacities. The oil prices declined

in 2019, benefit of which was passed on the consumers by GHPL is currently operating as a non-operator partner for
the Government. As of 2019, the total refining capacity of the onshore petroleum E & P joint ventures and licensee of
country stood at 19.37 million tons. On the financial side, the Government of Pakistan for offshore petroleum exploration.
Government is making efforts to clear the circular debt and It has a paid-up capital of Rs. 20.25 billion with an Authorized
is engaged with all stakeholders to ease off liquidity Capital up to Rs. 45 billion. It also owns Inter State Gas
concerns. On the technical side, efforts are drawn to convert Systems (Private) Limited, Pakistan LNG Limited and
old hydro skimming refineries to hydro cracking units. Pakistan LNG Terminals Limited as subsidiaries.
Further, there are thirty OMCs in the country with PSO During FY 2019, the company rerecorded its highest ever
leading the overall maket share by 42.5% followed by APL profit after tax of Rs. 34.56 billion, due to increase in oil
10.9%. On the natural gas side, there is a demand of 6 BCFD prices and LPG production as well as a favorable exchange
with a supply of only up to 4 BCFD. At present, the capacity rate. A total of 8 discoveries were made during the year
of two Floating Storage and Re-Gasification Unit (FSRU) is inclusive of joint ventures with OGDCL, PPL and UEPL in
1200 MMCFD and accordingly RLNG is being imported to Mirpurkhas, Gambat south block, Shahbandar, Nim block
reduce overall deficit. and Mubarak block. The discoveries added 29.6 Bcf to the

reserves of the company. In addition, the FFEC project has
been completed and is in operational phase in the Swan field.

SUI NORTHERN GAS PIPELINE
LMITTED

Sui Northern Gas Pipeline Limited has initiated a UFG control program to identify the bottlenecks leading to a positive impact
on the UFG that include:
1. Replacement of defective meters, which correctly measures the gas consumed and mitigates any under-billing. The
number of replaced meters amounted to 677,713 and the volume booked was 7,349 mmcfd.
2. Identification of above ground leakages through CMS and underground leakage through laser leak detectors amounted
to almost 905, 386 leakages that were controlled.
3. Security force formed which was formed to enforce the bylaws of the company and control theft. The force identified
and booked an amount of 2,867 mmcf amounting to Rs. 2,167 million
In addition, implementation of ERP systems and significant improvement in Customer Care and Billing has led to better
customer care and a new telephone link extension was established to better facilitate communication for all the stakeholders
involved.

26

Sector Snapshot – Oil and Gas
are in Rs. Million.

27

List of Entities – Oil and Gas
OIL AND GAS

Exploration & Development
Government Holdings (Private) Limited 45
- Inter State Gas Systems (Private) Limited
- Pakistan LNG Limited
- Pakistan LNG Terminals Limited

Oil and Gas Development Company Limited 46
Pakistan Petroleum Limited 47
- PPL Europe E&P Limited
- PPL Asia E&P B.V.
- The Pakistan Petroleum Provident Fund Trust Company (Private) Limited
Refineries
Pak Arab Refinery Company 48
State Petroleum Refining & Petrochemical Corporation 49
Marketing & Distribution
Sui Southern Gas Company Limited 50
- SSGC LPG (Private) Limited
- Sui Southern Gas Provident Fund Trust Company (Private) Limited
Pakistan State Oil Company Limited 51

Sui Northern Gas Pipelines Limited 52
28

YEAR IN REVIEW
Power
This category consists of all SOEs in Power sector including Distribution
Companies, Generation Companies, Transmission Companies, and
Power Management Companies. No new SOE or its subsidiary is added
to this sector in current Financial Year.

The Power sector includes Distribution, Generation,

Transmission, and Power Management sub-sectors. The line Power (21)
ministry for all SOEs in this sector is M/o Energy (Power Division).
All SOEs under this sector are Public Sector companies registered
Transmis Managem
under Companies Act 2017, except WAPDA which is a federal DISCOs GENCOs
sion ent
authority established through special enactment. (10) (7)
(1) (3)
FY 2019 proved to be a turnaround year for the power sector as the net losses reduced to Rs. 115.3 billion compared to Rs. 256.7
billion last year. The government made concerted efforts to reduce transmission and distribution losses as well as improved
recoveries, which remains lower than the last FY2018. Recently, the Government also worked with development partners as well
as the IMF to institute a circular debt management plan, rationalized tariff, initiate quarterly tariff adjustment and notified pending
base tariff increases. It is expected that these structural adjustments will lead to higher sector sustainability in the years to come.

86,151 FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
100,000
360,218 50,000
41,989
-
(50,000)
(100,000)
(150,000)
(200,000)
(250,000)
1,399,513
(300,000)
DISCOs GENCOs Transmission Management DISCOs GENCOs Transmission Management
29

6755
14619
417
1390
68,549
82,141
127509
Circular Debt continued to accumulate, though at much a lower ISLAMABAD ELECTRICITY SUPPLY
rate in FY2019. Government instituted key reforms, including COMPANY
preparation of a comprehensive circular debt management
plan, which envisaged to address key bottlenecks in
NTDC, under the request filed by IESCO rehabilitated the 500 kV
operations, finance, subsidies and tariff. Also, during this year, station at Rawat and 220 kV grid station at Tarbella-Burhan to
the power sector regulator (NEPRA) issued 1,152 Generation facilitate the uninterrupted power supply to consumers during
Licenses for Conventional Power Plants, Renewable Energy the summer season in 2019. This involved re-conducting from
Projects, Hydropower Projects, and Net Metering. One of the single rail to twin bundled cables and the addition of 750 MVA
major developments in Power sector was NEPRA Amendment T/F at the grid stations. Similarly, the T&D losses of IESCO
decreased from 9.13 percent to 8.86 percent during FY 2019. In
Act 2018. This Act envisaged a competitive power market
addition, the percentage of overloaded power transformers
creating retail and wholesale markets, further bifurcating the
decreased from 6.45 percent to 3.11 percent.
distribution and supply of power businesses. All distribution
companies are now required by the Authority to file multiyear
Moreover, IESCO committed to providing leadership in
tariff petitions so that there is an increased level of
sustainable development and incorporating sustainability
predictability and stability in the market, which is vital for principles and identifying alternative and sustainable courses of
improving the flow of investment to ensure the power sector action to minimize its environmental impact.
growth.

CENTRL POWER PURCHASING AUTHORITY

During FY 2019, CPPA Worked with international consultants to develop a competitive market model. This model would enable
competition in the market that is expected essentially to provide choice of suppliers of electricity and to bring the overall cost of
electricity down to affordable levels for the consumers. Different market models are followed successfully in different countries and
CPPA is currently in the works of developing a model that could be implemented in Pakistan successfully.

Moreover, CPPA also requested NEPRA to increase its revenue for FY 2019 by 8.9 percent more than the budgeted amount last year.
This translated into an increase of Rs. 2.3812/ kWh per month. The estimated revenue requirement of Rs. 960.55 million, which was
requested by CPPA was divided into sub-heads as general establishment cost of Rs. 654.80 million, administrative cost of Rs. 133.86
million, repair and maintenance charges at Rs. 31.49 million and capital expenditure of Rs. 138.90 million for FY 2019.
30

Sector Snapshot – Power

Note: Except for Total Number of SOEs,

Total Number of Board of Directors (BoDs) and Total Employees, all other numbers
are in Rs. Million.
31

List of Entities – Power

POWER
DISCOs
Faisalabad Electric Supply Company Limited 53
Hyderabad Electric Supply Company Limited 54
Quetta Electric Supply Company Limited 55
Tribal Electric Supply Company Limited 56
Peshawar Electric Supply Company Limited 57
Lahore Electric Supply Company Limited 58
Islamabad Electric Supply Company Limited 59
Gujranwala Electric Power Company Limited 60
Multan Electric Power Company Limited 61
Sukkur Electric Power Company Limited 62
GENCOs
GENCO-I: Jamshoro Power Company Limited 63
GENCO-II: Central Power Generation Company Limited, Thermal Power Station, Guddo 64
GENCO-III: Northern Power Generation Company Limited, Thermal Power Station, 65
Muzaffargarh
GENCO-IV: Lakhra Power Generation Company Limited 66
Lakhra Coal Development Company Limited 67
National Power Parks Management 68
Water and Power Development Authority 69
- Neelum Jhelum Hydro Power Company
- Power Information Technology Company

Transmission
National Transmission and Despatch Company 70
Management
Central Power Purchase Agency (Guarantee) Limited 71
Pakistan Electric Power Company (Private) Limited 72
Power Holding (Private) Limited 73

32

YEAR IN REVIEW
Industrial Estate
Development
This category has no sub-sector and includes all SOEs in Real Estate
Sector. No new SOE is added to this sector in current Financial Year.
The Industrial Estate Development sector includes 4 SOEs, which

are National Construction Limited, Export Processing Zones
Authority, Pakistan Expo Centers, and Pakistan Textile City. These Industrial Estate
SOEs are under purview of M/o Housing and Works, M/o
Industries and Production, and M/o Commerce respectively. Development (4)
Overall, this market is dominated by private sector players, yet

some public entities like National Construction Limited operate in Net Profit/(Loss) - Sub Sector
this sector. All SOEs under this category are registered under FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
200
Companies Act 2017, except Export Processing Zone Authority
which is incorporated as a Federal authority designed to increase 100
the overall exports of the country. This sub-sector contains four
SOEs and has generated net revenue of Rs. 2.7 billion. Moreover, -
current assets of this sector also increased by 19 percent to reach
Rs. 6 billion. There is also a substantial increment in dividends paid (100)
to the government through which reached to Rs. 4.9 billion in
(200)
FY2019.
(300)

(400)
(500)
33

HR Age-Seggregation Staffing 0
167 155
0
402
954
632
As the economic growth slow down, the construction and real

estate sector could not maintain their growth trajectory. Aided PAKISTAN TEXTILE CITY
by public spending, CPEC and private sector investment, the
sector had grown impressively on the back of capacity
expansions in recent years. The Finance Act 2018 also
introduced important measures to counter the under Pakistan Textile City Limited is a joint venture between the
documentation in the real estate sector. These include: private and the public sector, to develop an industrial zone
at Port Qasim, Karachi. The industrial zone would not only
§ Imposition of ban on non-filers on purchasing
boost the export of the textiles of the country but also attract
property above Rs. 5 million.
foreign investment to Pakistan in the textile sector. It would
§ Legal proceedings against any property transactions
also be providing around projected 80,000 employment
and exchanges that are deemed to be understated for
opportunities. The current government has suggested to
the purpose of either concealment of the source of
revive the SOE. The talks are currently underway between
income and/or tax avoidance.
the textile division, finance division and the ECC to clear all
§ Vesting power with the government to purchase the
the outstanding liabilities and help it resume operations.
property in question in case the understatement is

proven.
EXPORT PROCESSING ZONES

AUTHORITY

EPZA was established through an Ordinance IV of 1980 with the mandate to plan, develop and operate Export Processing Zones
in Pakistan. EPZA is an autonomous body working under the Ministry of Industries and Production. EPZA is mandate for setting
up EPZ’s in Pakistan under section 2(K) of its Ordinance. Export Processing Zones Authority (EPZA) is a Pakistan Government
venture conceived and designed to increase and improve the exports of the country. Its main objectives are accelerating the
pace of industrialization in the country and enhancing the volume of exports by creating an enabling environment for investors
to initiate ambitious export-oriented projects in the Zones which would, as a corollary, create job opportunities, bring in new
technology and attract foreign direct investment (FDI).

34

Sector Snapshot – Industrial Estate Development

are in Rs. Million.

35

List of Entities –Industrial Estate Development

INDUSTRIAL ESTATE DEVELOPMENT
Export Processing Zones Authority 74
National Construction Limited 75
Pakistan Expo Centers (Pvt) Ltd 76
Pakistan Textile City 77

36

YEAR IN REVIEW
Trading & Marketing

This category includes all SOEs operating in Trade and Marketing
Sector. No new SOE or its subsidiary is added to this sector in current
Financial Year.

The Wholesale, Retail & Marketing sector include 3 sub-sectors

with 4 SOEs in total. Trading Corporation of Pakistan (Private)
Limited (TCP) and Utility Stores Corporation (Private) Limited
Trading & Marketing (4)
(USCP) are under purview of M/o Commerce and M/o Industries
and Production. Pakistan Agriculture Storage and Services Agriculture
Corporation (PASSCO) deals with M/o National Food Security and Trading Chemicals
Storage
Research while National Fertilizer Corporation (NFC) of Pakistan (2) (1)
(1)
comes under purview of M/o Industries and Production.
The net losses decreased by 62 percent amounting to Rs. 1.7 billion as compared from Rs. 4.5 billion last year. The sector primarily
operates through entities that serve socio-economic interest of the GoP, such as management and provision of essential food
commodities. The sector was able to earn revenues of Rs. 62.8 billion during FY 2018-19. The highest performance in this sector is
depicted by Pakistan Agricultural Storage & Services Corporation Limited (PASSCO), and Trading Corporation of Pakistan showing
net profit of Rs. 1.6 billion and Rs. 1.1 billion, respectively.


FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
3,000
3,600 2,000
1,000
27,299 -
(1,000)
(2,000)
31,979
(3,000)
(4,000)
(5,000)
Trading Agricultural Storage Chemicals Trading Agricultural Storage Chemicals
37

HR Age-Seggregation Staffng
50
3518 991
5,060
16
9,451
9936
This essential SOE sector, although commercial in nature but

has a strategic importance in terms of their business and TRADING CORPORATION PAKISTAN
operation. For instance, PASSCO is responsible for storage of

wheat and agriculture products to ensure provision of food
security at national level by maintaining strategic reserves of
wheat and other special commodities. It also maintains SAARC TCP participated in the Prime Minister’s 10 billion tree
Food Bank Reserve Stock and undertake import/export of plantation drive as part of its CSR. It has mobilized its human
different food grains when required. Similarly, USCP operates resource for the project, who have been an active part of the
and maintain chain of utility stores throughout Pakistan to campaign. In addition, owing to tis efficient handling of
provide basic commodities at a price lower than open market vessels on the import of 100,000 MT of urea, TCP earned $
due to subsidy provided by government. Therefore, the 107,555 million and saved substantial demurrages on the
evaluation of these SOEs is a special case where although vessels. TCP also received Rs. 3,699.87 million from M/S
commercial in nature, the overall business objectives are NFML on the proceeds of sale of Urea.
strategic and economic in nature.

NATIONAL FERTILIZER CORPORATION
UTILLITY STORES CORPORATION OF
OF PAKISTAN
PAKISTAN

NFC aims to establish new fertilizer production and
incorporate uniform pricing throughout the country. In Utility Stores Corporation of Pakistan ensure food security
addition, it also maintains sufficient stocks of fertilizers in by providing commodities and groceries at a subsidized
the consumption areas in order to resolve any risk of ratees for the masses. The sales of Utility Stores remained
artificial shortages. At the end of FY 2019, the profit on short stagnant for FY 2019 from FY 2018. In addition, the
term investment s and bank deposits which act as the liabilities of Utility stores increased slightly at a quantum of
primary source of income for NFC have increased 0.37% from FY 2018. However, the company witnessed an
substantially from Rs. 301 million in 2018 to Rs. 435.6 increase in the cash and bank balances. Although, the sales of
million in 2019. This in turn contributed to a profit after tax utility stores have remained the same over FY2019, however
of Rs. 193. 4 million for FY 2019. In addition, the the sales of the stores touched their peak during Ramadan
unappropriated profit for FY 2019 has increased from Rs. when demand is significantly high.
73.9 million last year to Rs. 234.9 million.

38

Sector Snapshot – Trading and Marketing

are in Rs. Million.
39

List of Entities – Trading & Marketing

TRADING & MARKETING
Trading
Trading Corporation of Pakistan (Private) Limited 78
Utility Stores Corporation (Private) Limited 79
Agricultural Storage
Pakistan Agricultural Storage & Services Corporation Limited 80
Chemicals
National Fertilizer Corporation of Pakistan (Private) Limited 81
- National Fertilizer Marketing Limited
- NFC Institute of Engineering and Fertilizer Research (Private) Limited, Faisalabad
40

YEAR IN REVIEW
Miscellaneous
This category includes all remaining commercial SOEs. This sector
includes 3 sub-sectors: Media and Entertainment, Promotion &
Advocacy, and Other Services.
In Media and Entertainment, Pakistan Broadcasting Corporation and

Pakistan Television Corporation Limited (PTVC) are under the
administrative control of M/o Information, Broadcasting & National
Miscellaneous
Heritage. In promotion & Advocacy, Pakistan Tourism Development
Corporation (PTDC) is under purview of Cabinet Division. The remaining
(6)
SOEs including Pakistan Revenue Automation (Private) Limited and
Overseas Employment Corporation (Private) Limited fall under FBR and Media
Promotion Other
Human Resource Development, respectively. Entertainm
& Advocacy services
ent
(2) (2) (2)
This sector showed a considerable performance improvement in current financial year by turning losses of Rs. 1.7 billion in FY 2018
into a profit of Rs. 46 Million in current financial year. Overall net revenue of this sector increased by 20 percent to reach Rs. 13.1
billion mark.

235
FY2014-15 FY2015-16 FY2016-17 FY2017-18 FY2018-19
1,000
404 -
(1,000)
(2,000)
(3,000)
(4,000)
(5,000)
(6,000)
16,941
(7,000)
(8,000)
Media Entertainment Other Services Promotion & Advocacy Media Entertainment Other Services Promotion & Advocacy
41

HR-Age Segregation Stafffng
277
479 621
3566 2328
4963
4824

SMALL AND MEDIUM ENTERPRISE
PAKISTAN TELEVISION CORPORATION
DEVELOPMENT AUTHORITY

PTVC is a government owned broadcasting company that During FY 2019, 16 business plans were developed to help
consists of PTV Home, PTV Sports, PTV News, PTV Global, guide the customer and the firm to better analyze the needs
and PTV National. PTVC showed improved performance this and provide capital by referring to the pre-developed
year by turning over net profit of Rs. 1.2 billion. Although the business plans and provide better assistance to the customer
net revenue generated from the company under current year who wishes to invest in the specified sectors. In addition,
stands at around Rs. 11.1 billion, the operating expenses also SMEDA facilitated Rs. 648 million in investments, with the
reach up to Rs. 10.9 billion. The government is continually largest portion attributing to KPK, almost amounting to Rs.
emphasizing the organization in working out solutions to cut 307.90 million.
expenses and turn revenues into profits.

42

Sector Snapshot – Miscellaneous
are in Rs. Million.
43

List of Entities – Miscellaneous
MISCELLANEOUS
Media & Entertainment
Pakistan Broadcasting Corporation 82
Pakistan Television Corporation Limited 83
- Shalimar Recording & Broadcasting Corporation
Other Services
Overseas Employment Corporation (Private) Limited 84
Pakistan Revenue Automation (Private) Limited 85
Promotion and Advocacy
Small and Medium Enterprise Development Authority 86
Pakistan Tourism Development Corporation 87
- Pakistan Tours (Private) Limited
- PTDC Motels North (Private) Limited
- PTDC-Associated Hotels of Pakistan Limited

44

ANNUAL GOP SUPPORT
The Government of Pakistan provides support to SOEs in four ways, through (i) equity injection (ii) loans – both domestic
cash development loans and foreign loans, (iii) subsidies (iv) guarantees and (v) grants. The details of the GOP support
provided to commercial SOEs under all these components are summarized as below:

Table 1: Foreign Loans Disbursed During the Year
Rs. Million FY2015-16 FY2016-17 FY2017-18 FY2018-19

Commercial SOEs 54,600 187,166 111,351 187,869
Non-Commercial SOEs - - - -
Total 54,600 187,166 111,351 187,869
Table 2: Domestic Loans Disbursed During the Year

Commercial SOEs 167,514 205,118 204,258 102,284
Total 167,514 205,118 204,258 102,284
Table 3: Subsidies Handed Out During the Year

Commercial SOEs 240,971 175,242 143,372 202,731
Non-Commercial SOEs - 88 - -
Total 240,971 175,330 143,372 202,731
Table 4: Equity Investments During the Year

Commercial SOEs 33,620 40,182 45,912 23,455
Total 33,620 40,182 45,912 23,455
Table 5: Guarantees Issued During the Year

Commercial SOEs 140,000 615,350 318,152 489,071
Total 140,000 615,350 318,152 489,071
45

ANNUAL GoP SUPPORT
Table 6: Dividends Received by GoP from commercial SOEs
By Sectors FY2013-14 FY2014-15 FY2015-16 FY2016-17 FY2017-18
Financial 2,870 3,422 1,747 4,033 1,897

184 227 171 229 4,930
Communication
Manufacturing, Mining & Engineering 647 876 648 140 138
Oil & Gas 60,842 58,641 59,371 52,099 51,601
Power - - - 464 1,159
Industrial Estate Development - - - - -
Trading & Marketing 2,100 183 7,600 300 200
Miscellaneous - - - - -
Total 66,643 63,349 69,537 57,265 59,925
* Total dividned received from FY 2019 are higher as they include dividneds received from non-SOEs including dividneds
received from minority stakes and Privatization Commission (BESOS).

46

ANNEXURES
ANNEXURE 1: METHODOLOGY, ASSUMPTIONS AND LIMITATIONS

This report is based on the data provided by the SOEs directly or through their respective administrative ministries to
the Implementation and Economic Reforms Unit (IERU), Finance Division. The information is sought by IERU from
respective entities on the prescribed format. The data collection generally starts in January-February each year for the
previous year ending June. Somehow, the collection of information is a long and tedious process and sometimes the
information that is received is either incomplete or is not duly supported by the relevant documents/audited financial
statements. Therefore, IERU undertakes due exercise of data validation through follow-ups or from secondary sources.
Another challenge generally faced is that the information furnished by relevant entities do not follow the shared format
or is conveyed using different units.

In the presence of above difficulties and complications in data collection and cleaning, the possibility of omission cannot
be ruled out. Despite all care and caution exercised to ensure the integrity of the data, any error in the data is regretted
and the concerned entities are once again requested to indicate any mistake in reporting so that the same can be rectified.

The information collected from the entities is entered into the central database in IERU and is used for compilation of
this report. A customized data processing model was earlier designed during 2014-16 for generation of needed outputs
with the technical support from World Bank and Asian Development Bank. However, to generate more flexibility in data
maneuvering, the model was redesigned/re-calibrated for the report of 2017-18. The re-designed/re-calibrated model
helps compilation of this and future reports with better reporting framework.

Despite our best efforts, information on a few important SOEs could not be collected and we shall try to ensure that the
coverage of the future reports encompasses the missing information in future.

Table 7: Finance Division Information Template for SOEs
GOP Shareholding
Human Resource Strength
Board of Directors
Dividend Received by GOP
Government Support provided to SOEs
Audit information (newly added for FY2018/19 reporting)
Board meetings (newly added for FY2018/19 reporting)
FINANCIALS
Balance Sheet Income Statement Key Ratios
Total Assets Net Sales/Revenue/Income Net profit margin
Current Assets: Cost of Sales Return on Assets
- Cash & Bank Balances Gross Profit Return on Equity
- Trade Debts Other Expenses Debt to Equity
Operating Profit Current Ratio
- Stock in Trade Net Profit/(Loss) Asset Turnover
Fixed Asset Turnover
Non-Current Assets:
Interest Cover
- Fixed Assets

Total Liabilities
Current Liabilities
- Short Term Borrowings
- Trade and other Payables
47

ANNEXURES
Non-Current Liabilities
- Long term Loans
Total Equity
- Share Capital
- Accumulated Profit/(Loss)
- Revaluation Surplus/deficit

This report has been prepared based on information available at the end of FY 2018-19. Efforts were made to collect
data through line ministries and directly from SOEs to ensure data integrity. The table below highlights the assumptions
and information status underlying the preparation of the report.
ANNEXURE 2: LIST OF FEDERAL AUTHORITIES & REGULATORY BODIES NOT

COVERED IN THE REPORT

1. Civil Aviation Authority (CAA)
2. Competition Commission of Pakistan (CCP)
3. Securities & Exchange Commission of Pakistan (SECP)
4. State Bank of Pakistan (SBP)
5. Public Procurement Regulatory Authority (PPRA)
6. Pakistan Telecommunication Authority (PTA)
7. Abandoned Property Organization (APO)
8. Evacuee Trust Property Board (ETPB)
9. Trade Development Authority of Pakistan (TDAP)
10. National Electric Power Regulatory Authority (NEPRA)
11. Oil & Gas Regulatory Authority (OGRA)
12. Pakistan Electronic Media Regulatory Authority (PEMRA)
13. Pakistan Standards and Quality Control Authority (PSQCA)
14. Drug Regulatory Authority of Pakistan (DRAP)
15. National Tariff Commission (NTC)
16. Central Board Film Censors (CBFC)
17. Pakistan Environmental Protection Agency (PEPA)
18. National Aliens Registration Authority (NARA)
19. Pakistan Medical & Dental Council (PM & DC)
20. Higher Education Commission (HEC)
21. National Database and Registration Authority (NADRA)
22. Capital Development Authority (CDA)
23. Pakistan Engineering Council (PEC)
24. Private Power & Infrastructure Board (PPIB)
25. Engineering Development Board (EDB)
26. Intellectual Property Organization (IPO)
27. Board of Investment (BOI)
28. Earthquake Rehabilitation Authority (ERRA)
29. Agriculture Price Commission (APC)
30. Frequency Allocation Board (FAB)
31. Indus River System Authority (IRSA)
32. Alternate Energy Development Board (AEDB)
33. Pakistan National Council of Arts (PNCA)
34. Pakistan Sports Board (PSB)
48

ANNEXURES
35. Pakistan Cricket Board (PCB)

36. National Disaster Management Authority (NDMA)
37. National Information Telecommunication Board (NITB)
38. Pakistan Institute of Fashion Designing
39. Pakistan Industrial Technical Assistance Centre Lahore
40. Federal Medical & Dental College, Islamabad
41. NFC-Institute of Engineering & Technological Training Limited (NFC-IETTL)
49

ANNEXURES
ANNEXURE 3: COMMERCIAL SOEs UNDER ADMNISTRATIVE MINISTRIES

Aviation Division
Pakistan International Airlines Corporation
Cabinet Division
Pakistan Tourism Development Corporation
Printing Corporation of Pakistan (Private) Limited
M/o Climate Change
Pakistan Environmental Planning & Architectural Consultants (Private) Limited
M/o Commerce
Pakistan Expo Centers (Pvt) Ltd
Pakistan Textile City Limited
Trading Corporation of Pakistan (Private) Limited
National Insurance Company Limited
Pakistan Reinsurance Company Limited
State Life Insurance Corporation
M/o Communication
National Highway Authority
Pakistan Post Office
M/o Defense Production
Karachi Shipyard and Engineering Works Limited
M/o Energy
Central Power Purchase Agency (Guarantee) Limited
Faisalabad Electric Supply Company Limited
GENCO-I: Jamshoro Power Company Limited
GENCO-II: Central Power Generation Company Limited , Thermal Power Station, Guddo
GENCO-III: Northern Power Generation Company Limited, Thermal Power Station, Muzaffargarh
GENCO-IV: Lakhra Power Generation Company Limited
Government Holdings (Private) Limited
Gujranwala Electric Power Company Limited
Hyderabad Electric Supply Company Limited
Islamabad Electric Supply Company Limited
Lahore Electric Supply Company Limited
Lakhra Coal Development Company Limited
Multan Electric Power Company Limited
National Engineering Services Pakistan (Private) Limited
50

ANNEXURES
National Power Parks Management

National Transmission and Dispatch Company
Oil and Gas Development Company Limited
Pak Arab Refinery Company
Pakistan Electric Power Company (Private) Limited
Pakistan Mineral Development Corporation (Private) Limited
Pakistan Petroleum Limited
Pakistan State Oil Company Limited
Peshawar Electric Supply Company Limited
Power Holding (Private) Limited
Quetta Electric Supply Company Limited
Saindak Metals Limited
State Petroleum Refining & Petrochemical Corporation*
Sui Northern Gas Pipelines Limited
Sui Southern Gas Company Limited*
Sukkur Electric Power Company Limited
Tribal Electric Supply Company Limited
Water and Power Development Authority
M/o Finance
Exim Bank of Pakistan Limited
First Women Bank Limited
House Building Finance Company Limited
Industrial Development Bank Limited
National Bank of Pakistan
National Investment Trust Limited
National Security Printing Company (Formally Pakistan Security Printing Corporation (Private) Limited)
Pak Brunei Investment Company
Pak China Investment Company Limited
Pak Iran Investment Company
Pak Kuwait Investment Company (Private) Limited
Pak Libya Holding Company (Private) Limited
Pak Oman Investment Company
Pakistan Revenue Automation (Private) Limited
Saudi Pak Industrial and Agricultural Investment Company Limited
SME Bank
51

ANNEXURES
Zarai Taraqiati Bank Limited

M/o Housing & Works
National Construction Limited
M/o Industries and Production
Export Processing Zones Authority
Heavy Mechanical Complex (Private) Limited
National Fertilizer Corporation of Pakistan (Private) Limited
Pakistan Industrial Development Corporation (Private) Limited
Pakistan Steel Mills Corporation (Private) Limited
Peoples Steel Mills Limited*
Small and Medium Enterprise Development Authority
State Engineering Corporation (Private) Limited
Utility Stores Corporation (Private) Limited
M/o Information Technology & Telecommunication
National Telecommunication Corporation
Telephone Industries of Pakistan
M/o Information, Broadcasting & National Heritage
Pakistan Broadcasting Corporation
Pakistan Television Corporation Limited
M/o National Food Security & Research
Pakistan Agricultural Storage & Services Corporation Limited
M/o Overseas Pakistanis and Human Resource Development
Overseas Employment Corporation (Private) Limited
M/o Ports & Shipping
Gwadar Port Authority
Karachi Port Trust
Pakistan National Shipping Corporation
Port Qasim Authority*
M/o Railways
Karachi Urban Transport Corporation*
Pakistan Railways
M/o Science & Technology
STEDEC Technology Commercialization Corporation of Pakistan (Private) Limited
*SOEs for which the data is missing in FY 2018-19 due to non-compliance.
52

ANNEXURES
ANNEXURE 4: LIST OF SOEs AND SUBSIDIARIES

FINANCIAL
Banks Entity ID
Zarai Taraqiati Bank Limited 1
- Kissan Support Services (Private) Limited
SME Bank 2
- SME Leasing Limited
Industrial Development Bank Limited 3

- Pakistan Industrial Development Financial Services (Private) Limited
National Bank of Pakistan 4

- NBP Leasing Limited
- CJSC Subsidiary Bank of NBP in Kazakhstan
- CJSC Subsidiary Bank of NBP in Tajikistan
- First National Bank Modaraba, Pakistan
- NBP Exchange Company Limited
- NBP Modarabah Management Company Limited
- Taurus Securities Limited
- NBP Fund Management Ltd (Formerly: Fullerton Asset Management Limited)
- Cast-N-Link Products Limited
First Women Bank Limited 5

NBFI’s
House Building Finance Company Limited 6
Exim Bank of Pakistan Limited 7
National Investment Trust Limited 8
DFI’s
Pak China Investment Company Limited 9
Pak Iran Investment Company 10
Pak Libya Holding Company (Private) Limited 11
Pak Oman Investment Company 12
Pak Kuwait Investment Company (Private) Limited 13
Pak Brunei Investment Company 14
Saudi Pak Industrial and Agricultural Investment Company Limited 15
Insurance
State Life Insurance Corporation 16
- Alpha Insurance Company Limited
- State Life (Lakie Road) Properties (Private) Limited
- State Life (Abdullah Haroon Road) Properties (Private) Limited
53

ANNEXURES
National Insurance Company Limited 17

- Civic Centre Company (Private) Limited
Pakistan Reinsurance Company Limited 18

INFRASTRUCTURE, TRANSPORT, AND ITC
Ports & Shipping
Karachi Port Trust 19
Pakistan National Shipping Corporation 20
- Bolan Shipping (Private) Limited
- Chitral Shipping (Private) Limited
- Hyderabad Shipping (Private) Limited
- Islamabad Shipping (Private) Limited
- Johar Shipping (Private) Limited
- Kaghan Shipping (Private) Limited
- Karachi Shipping (Private) Limited
- Khairpur Shipping (Private) Limited
- Lahore Shipping (Private) Limited
- Lalazar Shipping (Private) Limited
- Makran Shipping (Private) Limited
- Malakand Shipping (Private) Limited
- Multan Shipping (Private) Limited
- Pakistan Cooperative Ship Stores (Private) Limited
- Quetta Shipping (Private) Limited
- Sargodha Shipping (Private) Limited
- Shalamar Shipping (Private) Limited
- Sibi Shipping (Private) Limited
- Swat Shipping (Private) Limited
Port Qasim Authority 21

Gawadar Port Authority 22
Railways
Pakistan Railways 23
- Pakistan Railway Freight Transportation Company (Pvt) Ltd
- Railway Constructions Pakistan Limited
- Pakistan Railway Advisory and Consultancy Services Limited
Roads & Highways

Karachi Urban Transport Corporation 24
National Highway Authority 25
Karachi Infrastructure Development Company Limited* 26
Aviation
Pakistan International Airlines Corporation 27

54

ANNEXURES
- PIAC Investments Limited

- Skyrooms (Private) Limited
- Abacus Distribution Systems Pakistan (Private) Limited
Communication
National Telecommunication Corporation 28
Pakistan Post Office 29
Pakistan Telecommunications Company Limited 30
MANUFACTURING, MINING & ENGINEERING
Metals and Mining
State Engineering Corporation (Private) Limited 31
- Heavy Electrical Complex (Private) Limited
- ENAR Petrotech Services (Private) Limited
- Pakistan Machine Tool Factory (Private) Limited
- Pakistan Engineering Company Limited
Heavy Mechanical Complex (Private) Limited 32

Karachi Shipyard and Engineering Works Limited 33
Telephone Industries of Pakistan 34
Pakistan Steel Mills Corporation (Private) Limited 35
- Pakistan Steel Fabricating Company (Private) Limited
Peoples Steel Mills Limited 36

Saindak Metals Limited 37
Pakistan Mineral Development Corporation (Private) Limited 38
Pakistan Industrial Development Corporation (Private) Limited 39
- Pakistan Automobile Corporation
o Sind Engineering (Private) Limited
- Republic Motors (Private) Limited
- Morafco Industries Limited
Engineering Consultancy
Pakistan Environmental Planning & Architectural Consultants (Private) Limited 40
National Engineering Services Pakistan (Private) Limited 41
- NESPAK and Partners LLC, Muscat, Oman
- Mohammad Hisham Aitah-NESPAK, Riyadh, Saudi Arabia
- NESPAK Limited - Doha, Qatar
STEDEC Technology Commercialization Corporation of Pakistan (Private) Limited 42

Printing
National Security Printing Company (Private) Limited 43
55

ANNEXURES
Printing Corporation of Pakistan (Private) Limited 44

OIL AND GAS
Exploration & Development

Government Holdings (Private) Limited 45
- Inter State Gas Systems (Private) Limited
- Pakistan LNG Limited
- Pakistan LNG Terminals Limited

- Oil and Gas Development Company Limited 46
Pakistan Petroleum Limited 47

- PPL Europe E&P Limited
- PPL Asia E&P B.V.
- The Pakistan Petroleum Provident Fund Trust Company (Private) Limited
Refineries
Pak Arab Refinery Company 48
State Petroleum Refining & Petrochemical Corporation 49
Marketing & Distribution
Sui Southern Gas Company Limited 50
- SSGC LPG (Private) Limited
Sui Southern Gas Provident Fund Trust Company (Private) Limited

Pakistan State Oil Company Limited 51
Sui Northern Gas Pipelines Limited 52
POWER
DISCOs
Faisalabad Electric Supply Company Limited 53
Hyderabad Electric Supply Company Limited 54
Quetta Electric Supply Company Limited 55
Tribal Electric Supply Company Limited 56
Peshawar Electric Supply Company Limited 57
Lahore Electric Supply Company Limited 58
Islamabad Electric Supply Company Limited 59
Gujranwala Electric Power Company Limited 60
Multan Electric Power Company Limited 61
Sukkur Electric Power Company Limited 62
GENCOs
56

ANNEXURES
GENCO-I: Jamshoro Power Company Limited 63

GENCO-II: Central Power Generation Company Limited, Guddo 64
GENCO-III: Northern Power Generation Company Limited, Muzaffargarh 65
GENCO-IV: Lakhra Power Generation Company Limited 66
Lakhra Coal Development Company Limited 67
National Power Parks Management 68
Water and Power Development Authority 69
- Neelum Jhelum Hydro Power Company
- Power Information Technology Company

Transmission
National Transmission and Despatch Company 70
Management
Central Power Purchase Agency (Guarantee) Limited 71
Pakistan Electric Power Company (Private) Limited 72
Power Holding (Private) Limited 73
INDUSTRIAL ESTATE DEVELOPMENT
Export Processing Zones Authority 74
National Construction Limited 75
Pakistan Expo Centers (Pvt) Ltd 76
Pakistan Textile City 77
TRADING & MARKETING
Trading
Trading Corporation of Pakistan (Private) Limited 78
Utility Stores Corporation (Private) Limited 79
Agricultural Storage
Pakistan Agricultural Storage & Services Corporation Limited 80
Chemicals
National Fertilizer Corporation of Pakistan (Private) Limited 81
- National Fertilizer Marketing Limited
- NFC Institute of Engineering and Fertilizer Research (Private) Limited, Faisalabad
MISCELLANEOUS
Media Entertainment
Pakistan Broadcasting Corporation 82
Pakistan Television Corporation Limited 83
- Shalimar Recording & Broadcasting Corporation
57

ANNEXURES
Other Services
Overseas Employment Corporation (Private) Limited 84
Pakistan Revenue Automation (Private) Limited 85
Promotion and Advocacy
Small and Medium Enterprise Development Authority 86
Pakistan Tourism Development Corporation 87
- Pakistan Tours (Private) Limited
- PTDC Motels North (Private) Limited
- PTDC-Associated Hotels of Pakistan Limited

58

Federal Footprint - State Owned Enterprises Annual Report 2018-19
1 Zarai Taraqiati Bank Limited
Company Information ZTBL
Sector Sub-Sector Year of Incorporation Entity Type
Financial Banks 2002 PSC - Commercial
Administrative Ministry Incorporation Structure Nature of Business

Unlisted Public Limited
M/o Finance Banking
Company
Top Shareholders Human Resources

Government of Pakistan 100% Executives 548
Government of Punjab 0% Non-Executives 4,706
Others 0% Total 5,254
Key Indicators (All figures in PKR Millions)
Income Statement 2017-18 2018-19 % Change 5 Year Trend

Revenue/ Net Sales - 8,628 -
Cost of Sales - 1,793 -
Gross Profit/(Loss) - 10,420 -
Operating Expenses - 24,026 -
Other Expenses - 12,744 -
Other Income - 36,770 -
Finance Cost - (26,349) -
Tax - 8,068 -
Net Profit/ (Loss) - (18,281) -
Balance Sheet
Cash & Bank Balance - 32,557 -
Trade Receivables - - -
Other Current Assets - - -
Current Assets - 24,111 -
Fixed Asset - 109,688 -
Other Non-Current Assets - 2,752 -
Non-Current Assets - 30,104 -
Total Assets - 199,212 -
Trade Payables - - -
Short Term Borrowings - 572 -
Other Current Liabilities - 72,502 -
Current Liabilities - 46,002 -
Long Term Loans - - -
Other Non-Current Liabilities - 23,188 -
Non-Current Liabilities - 142,264 -
Total Liabilities - - -
Share Capital - 52,678 -
Accumulated Profit/(Loss) - (4,124) -
Revaluation Surplus - 2,094 -
Reserves/ Others - 6,300 -
Equity - 56,948 -
Total Liabilities & Equity - 199,212 -
Dividends
Dividend Declared - - -
Dividend Received by GOP - - -
Human Resources (Number)

Executive 703 548 -22%
Non-Executive 4,901 4,706 -4%
Total 5,604 5,254 -6%
Government Support
During the Year
5 Foreign Loans - - -
7 Domestic Loans - - -
14 Subsidies - - -
15 Guarantees - - -
16 Equity Injection - - -
Outstanding -
10 Loans - - -
13 Guarantees 54,500 54 -100%
Board of Directors
Name Board Position Position Type Appointment Date
1 Mr.Muhammad Shahbaz Jameel Executive CEO 11-Nov-19
2 Mr.Mohammad Tanvir Butt Non-Executive Director 27-Oct-15
3 Mr.Afaq Ahmad Tiwana * Independent Director 6-Jun-18
4
5
6
7
8
9
10
11
12
13
14
15
2 SME Bank
Company Information SME

M/o Finance Specialized Banking Services
Company

NBP 3% Non-Executives 301
Others 4% Total 374

Revenue/ Net Sales 18 (373) 2172%
Cost of Sales 12 13 8%
Gross Profit/(Loss) 30 (360) 1300%
Operating Expenses 66 (19) 129%
Other Expenses 840 947 13%
Other Income 906 928 2%
Finance Cost (876) (1,288) -47%
Tax (50) (215) -330%
Net Profit/ (Loss) (826) (1,073) -30%
Balance Sheet
Cash & Bank Balance 460 656 43%
Current Assets 5,765 5,659 -2%
Fixed Asset 2,231 2,225 0%
Other Non-Current Assets 58 549 846%
Non-Current Assets 1,126 1,312 17%
Total Assets 9,640 10,400 8%
Short Term Borrowings 119 52 -57%
Other Current Liabilities 4,740 3,655 -23%
Current Liabilities 5,721 7,501 31%
Other Non-Current Liabilities 753 1,709 127%
Non-Current Liabilities 11,333 12,917 14%
Share Capital 2,393 2,393 0%
Accumulated Profit/(Loss) (3,857) (4,870) -26%
Revaluation Surplus (436) (300) 31%
Reserves/ Others 207 261 26%
Equity (1,693) (2,516) -49%
Total Liabilities & Equity 9,640 10,400 8%
Dividends

Executive 80 73 -9%
Non-Executive 297 301 1%
Total 377 374 -1%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Dilsha Ali Ahmed Executive Chairman 16-Oct-18
2 Mr. Muhammad Arshad Khan Non-Executive Member 31-Aug-18
3 Mr. Sher Ayub Khan Non-Executive Member 10-Jan-18
4
5
6
7
8
9
10
11
12
13
14
15
3 Industrial Development Bank Limited
Company Information IDBL

M/o Finance Banking (Mudarba)
Company

- 0% Non-Executives 47
Others 0% Total 55

Revenue/ Net Sales 138 238 72%
Cost of Sales 289 241 -17%
Gross Profit/(Loss) 428 479 12%
Operating Expenses - - -
Finance Cost 274 265 -4%
Tax 36 71 94%
Net Profit/ (Loss) 238 194 -19%
Balance Sheet
Cash & Bank Balance 29 26 -10%
Trade Receivables 1,613 -
Current Assets - - -
Fixed Asset - - -
Other Non-Current Assets 54 -
Total Assets 3,505 3,338 -5%
Other Current Liabilities 23,611 23,611 0%
Current Liabilities - - -
Other Non-Current Liabilities 5,515 4,800 -13%
Share Capital 0 -
Revaluation Surplus 57 68 20%
Reserves/ Others - - -
Equity (25,622) (25,977) -1%
Total Liabilities & Equity 3,505 3,338 -5%
Dividends
Dividend Received by GOP - 250 -

Executive 9 8 -11%
Non-Executive 49 47 -4%
Total 58 55 -5%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 6,825 11,908 74%
13 Guarantees - - -
Board of Directors
1 Mr. Jamal Nasim Executive Chairman 29-Apr-17
2 Mr. Suhbat Ali Talpur Non-Executive Member 29-Apr-17
3 Sheikh Pervez Hanif Independent Member 29-Apr-17
4
5
6
7
8
9
10
11
12
13
14
15
4 National Bank of Pakistan
Company Information NBP

Listed Public Limited
M/o Finance Commercial Banking
Company

Government of Pakistan 0% Executives 2,490
SBP 75% Non-Executives 13,942

Revenue/ Net Sales 60,891 72,154 18%
Cost of Sales 37,674 37,760 0%
Gross Profit/(Loss) 98,566 109,914 12%
Operating Expenses 11,205 13,557 21%
Other Expenses 57,480 67,379 17%
Other Income 68,686 80,936 18%
Finance Cost 29,880 28,978 -3%
Tax 9,844 12,331 25%
Net Profit/ (Loss) 20,035 16,647 -17%
Balance Sheet
Cash & Bank Balance 247,917 306,796 24%
Trade Receivables 106,392 144,140 35%
Current Assets 1,284,975 1,442,404 12%
Fixed Asset 926,340 1,008,399 9%
Other Non-Current Assets 68,245 54,920 -20%
Total Assets 2,803,886 3,132,360 12%
Short Term Borrowings 9,944 19,867 100%
Current Liabilities 2,011,313 2,197,985 9%
Other Non-Current Liabilities 178,828 203,528 14%
Non-Current Liabilities 2,592,824 2,893,138 12%
Accumulated Profit/(Loss) 76,240 93,466 23%
Revaluation Surplus 59,262 70,359 19%
Reserves/ Others 54,284 54,123 0%
Equity 211,061 239,222 13%
Total Liabilities & Equity 2,803,885 3,132,360 12%
Dividends

Executive 2,656 2,490 -6%
Non-Executive 14,326 13,942 -3%
Total 16,982 16,432 -3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Zubyr Soomro Executive Chairman 17-Apr-19
2 Mr. Arif Usmani Executive CEO 12-Feb-19
3 Mr. Muhammad Naeem Independent Director 9-Mar-17
4 Mr. Farid Malik Independent Director 15-May-17
5 Mr. Muhammad Sohail Rajput Non-Executive Director 17-Apr-19
6 Mr. Tawfiq A. Hussain Independent Director 17-Apr-19
7 Ms. Sadaffe Abid Independent Director 17-Apr-19
8 Mr. Zafar Masud Independent Director 17-Apr-19
9 Mr. Imam Bakhsh Baloch Independent Director 17-Apr-19
10
11
12
13
14
15
5 First Women Bank Limited
Company Information FWBL

M/o Finance Commercial Banking and related services
Company

NBP 2% Non-Executives 479
Others 15% Total 495

Revenue/ Net Sales 742 1,056 42%
Gross Profit/(Loss) 872 1,260 44%
Operating Expenses 51 16 -69%
Finance Cost (90) 281 412%
Tax 143 34 -76%
Net Profit/ (Loss) (233) 247 206%
Balance Sheet
Fixed Asset 9,435 10,304 9%
Total Assets 23,357 23,901 2%
Other Current Liabilities 109 411 277%
Current Liabilities 18,392 17,870 -3%
Accumulated Profit/(Loss) (934) (700) 25%
Equity 3,541 3,794 7%
Dividends

Total 474 495 4%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Ms. Naushaba Shahzad Executive Chairman 15-Oct-18
2 Ms. Tahira Reza Executive Chairman 14-Apr-17
3 Mr. Ghulam Kazim Hussain Independent Member 7-Jan-16
4 Ms. Rukhsana Shah Independent Member 7-Jan-16
5 Ms. Huma Baqai Independent Member 7-Jan-16
6 Ms. Sumaira Aslam Khan Non-Executive Member 7-Jan-17
7 Ms. Sumbal Munir Non-Executive Member 7-Jan-17
8
9
10
11
12
13
14
15
6 House Building Finance Company Limited
Company Information HBFC
Financial NBFIs 2006 PSC - Commercial

M/o Finance Housing Finance
Company

SBP 90% Non-Executives 537
Others 0% Total 543

Operating Expenses (305) 390 228%
Other Income 1,135 2,165 91%
Finance Cost 1,254 954 -24%
Tax 213 (1,808) 949%
Net Profit/ (Loss) 1,041 2,762 165%
Balance Sheet
Current Assets 4,010 10,284 156%
Fixed Asset 11,681 11,669 0%
Non-Current Assets 220 2,457 1016%
Total Assets 20,878 25,202 21%
Short Term Borrowings - - -
Accumulated Profit/(Loss) (3,686) (1,049) 72%
Equity 16,905 20,108 19%
Dividends

Executive 26 6 -77%
Total 499 543 9%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees 11,200 11 -100%
Board of Directors
1 Mr. Mansur Rahman Khan Independent Chairman 4-Jan-18
2 Mr. Azhar Iqbal Qureshi Independent Chairman 27-Nov-17
3 Mr. Arifa Waheed Malik Independent Chairman 27-Nov-17
4 Mr. Ali Mehdi Independent Chairman 27-Nov-17
5 Mr. Munir Ahmed Non-Executive Chairman 28-Mar-16
6 Mr. Syed Basit Ali Executive Chairman 31-Oct-17
7
8
9
10
11
12
13
14
15
7 Exim Bank of Pakistan Limited
Company Information EBPL

Unlisted Public Limited To provide export finance, export credit insurance and guarantees
M/o Finance
Company to the exporters of Pakistan

Others 0% Total 8

Cost of Sales - - -
Other Expenses 38 36 -5%
Other Income 38 36 -5%
Finance Cost 484 911 88%
Tax 140 264 88%
Net Profit/ (Loss) 344 647 88%
Balance Sheet
Cash & Bank Balance 0 -
Current Assets 7,602 -
Fixed Asset 123 -
Other Non-Current Assets 6 5 -19%
Total Assets 7,732 8,421 9%
Other Current Liabilities - - -
Other Non-Current Liabilities 96 139 45%
Non-Current Liabilities 96 139 45%
Accumulated Profit/(Loss) 636 1,283 102%
Revaluation Surplus - - -
Equity 7,636 8,283 8%
Dividends

Executive 1 1 0%
Total 8 8 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1
2 Mr. Akbar Sharifzada, AFS Executive Chairman 24-Aug-16
3
4
5
6
7
8
9
10
11
12
13
14
15
8 National Investment Trust Limited
Company Information NIT

Development Finance Institution to promote financing for industrial
Guarantee Limited and commercial projects, capital and money market operations and
M/o Finance
Company under Section-42 other investment banking activities (Financial Services, Investment
Banking, Credit & Project Financing)
Tajammal Foundation 8% Non-Executives 159

Cost of Sales 1,062 1,913 80%
Finance Cost 697 1,484 113%
Tax 203 476 134%
Net Profit/ (Loss) 494 1,008 104%
Balance Sheet
Current Assets 126 132 5%
Fixed Asset 267 241 -10%
Total Assets 12,256 12,892 5%
Share Capital 95 95 0%
Revaluation Surplus 1,680 163 -90%
Reserves/ Others 163 -
Equity 10,511 10,719 2%
Dividends
Dividend Received by GOP 432 53 -88%

Executive 49 55 12%
Total 206 214 4%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Adnan Afridi Executive Managing Director 11-Feb-19
2 Mian Nusrat-ud-Din Non-Executive Member 23-Jun-17
3 Mr. Jamal Nasim Non-Executive Member 23-Jun-17
4 Mr. Iqbal Adamjee Non-Executive Member 23-Jun-17
5 Mr. Ahmad Aqeel Non-Executive Member 23-Jun-17
6 Mr. Amir Mohyuddin Non-Executive Member 27-Feb-18
7 Mr. Khalid Mohsin Shaikh Non-Executive Member 7-Sep-16
8 Mr. Saeed Iqbal Non-Executive Member 26-Oct-17
9 Mr. Shakeel Ahmed Mangnejo Non-Executive Member 26-Oct-17
10 Mr. Arif Usman Non-Executive Member 23-Apr-19
11 Mr. Nauman Zafar Non-Executive Member 25-Sep-19
12
13
14
15
9 Pak China Investment Company Limited
Company Information PCIC
Financial DFIs 2007 PSC - Commercial

Unlisted Public Limited Development Finance Institution to invest in the financial sector
M/o Finance
Company and infrastructure projects

Govt. of China 50% Non-Executives 34
Others 0% Total 45

Operating Expenses 226 833 269%
Other Income 575 1,684 193%
Tax 293 306 4%
Balance Sheet
Fixed Asset 7,620 9,286 22%
Non-Current Assets 362 656 81%
Total Assets 19,762 33,403 69%
Current Liabilities - 652 -
Other Non-Current Liabilities 220 -
Revaluation Surplus 83 1,385 1567%
Reserves/ Others 1,233 5 -100%
Equity 15,361 16,632 8%
Dividends

Executive 11 11 0%
Total 43 45 5%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Wang Baojun Executive CEO 22-May-18
2 Arif Ahmed khan Non-Executive Chairman 15-Jan-18
3 Noor Ahmed Non-Executive Director 13-Dec-18
4 Mr. Shahnawaz Mahmood Executive Director 6-Jan-14
5 Ms. Wang li Non-Executive Director 27-Jun-18
6 Ms. Deng Shuang Non-Executive Director 26-Feb-17
7
8
9
10
11
12
13
14
15
10 Pak Iran Investment Company
Company Information PAIR

Development Finance Institution to promote financing for industrial
Unlisted Public Limited and commercial projects, capital and money market operations and
M/o Finance
Company other investment banking activities (Financial Services, Investment
Banking, Credit & Project Financing)
Govt. of Iran 50% Non-Executives 41
Others 0% Total 52

Cost of Sales 101 (36) 136%
Other Expenses 267 1,359 408%
Tax 22 153 605%
Net Profit/ (Loss) (10) 242 2462%
Balance Sheet
Trade Receivables 105 150 43%
Fixed Asset 6,224 5,390 -13%
Total Assets 18,525 21,475 16%
Current Liabilities 1,222 775 -37%
Accumulated Profit/(Loss) 2,341 888 -62%
Revaluation Surplus (72) 56 179%
Reserves/ Others 840 2,526 201%
Equity 9,110 9,471 4%
Dividends
Dividend Received by GOP 50 - -100%

Executive 11 11 0%
Total 52 52 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Vacant 0 Chairman -
2 Mr. Amer Mehmood Hussain Non-Executive Director 1-Feb-12
3 Mr. Zahoor Ahmed Non-Executive Director 25-Jul-16
4 Mr. Hamid Iftekhari Executive Managing Director 4-Jul-17
5 Mr. Ghomreja Khalil Arjmandi Non-Executive Director 13-Aug-18
6 Mr. Hamidreza Raufi Non-Executive Director 21-Oct-19
7
8
9
10
11
12
13
14
15
11 Pak Libya Holding Company (Private) Limited
Company Information PLHC

Development Finance Institution to promote economic
M/o Finance Private Limited Company
development in Pakistan

Govt. of Libya 50% Non-Executives 80
Others 0% Total 101

Cost of Sales 78 1,852 2263%
Other Expenses 1,640 25 -98%
Other Income 1,767 108 -94%
Finance Cost (261) 3,673 1509%
Tax 62 (27) 143%
Net Profit/ (Loss) (323) (303) 6%
Balance Sheet
Fixed Asset 4,350 4,525 4%
Total Assets 20,428 29,089 42%
Current Liabilities 644 1,551 141%
Equity 4,168 5,254 26%
Dividends

Executive 19 21 11%
Total 103 101 -2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Bashir B. Omer Non-Executive Chairman 10-Aug-07
2 Mr. Abdulfatah Ashour Ali Ejayedi Non-Executive Director 18-Jul-18
3 Mr. Khaled Joma Ezarzor Executive Deputy Managing Director &Director 5-Apr-17
4 Dr. Muhammad Tahir Noor Non-Executive Director 20-Feb-18
5 Mr. Abrar Ahmed Mirza Non-Executive Director 22-Mar-19
6 Mr. Khurram Hussain Executive Managing Director/CEO& Director 11-Mar-19
7
8
9
10
11
12
13
14
15
12 Pak Oman Investment Company
Company Information POIC

Development Finance Institution to promote economic growth of
Unlisted Public Limited Pakistan
M/o Finance
Company Oman through industrial development and agro-based industries on
commercial basis
Ministry of Finance Govt. of Oman 50% Non-Executives 56
Others 0% Total 93

Operating Expenses (332) (34) 90%
Other Expenses 683 7,109 940%
Other Income 351 7,075 1914%
Tax 281 178 -37%
Balance Sheet
Cash & Bank Balance 2,417 2,128 -12%
Current Assets 28,342 59,376 109%
Fixed Asset 20,482 20,024 -2%
Total Assets 58,397 92,083 58%
Reserves/ Others 691 162 -77%
Equity 8,045 8,354 4%
Dividends
Dividend Received by GOP 215 215 0%

Executive 35 37 6%
Total 90 93 3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 H.E Yahya Bin Said Bin Abdullah Al-Jabri Non-Executive Chairman 1-Aug-01
2 Mr. Haitham Yousuf Juma Al Zadjali Non-Executive Director 8-Mar-18
3 H.H. Juland Jaifar Salim Al Said Non-Executive Director 28-Dec-18
4 Mr. Zubair Motiwala Non-Executive Director 27-Oct-07
5 Mr. Omar Hamid Khan Non-Executive Director 19-Apr-19
6 Mr. Bahauddin Khan Executive Director/CEO 1-Oct-15
7
8
9
10
11
12
13
14
15
13 Pak Kuwait Investment Company (Private) Limited
Company Information PKIC

Development Finance Institution to profitably promote industrial
investments in Pakistan.

Govt. of Kuwait 50% Non-Executives 71
Others 0% Total 84

Cost of Sales 3,534 5,644 60%
Finance Cost 3,515 5,768 64%
Tax 2,023 1,025 -49%
Net Profit/ (Loss) 1,492 4,743 218%
Balance Sheet
Current Assets 25,815 56,341 118%
Fixed Asset 2,698 6,655 147%
Total Assets 29,977 65,781 119%
Current Liabilities 35 -
Accumulated Profit/(Loss) 12,189 11,160 -8%
Equity 26,549 33,535 26%
Dividends

Total 81 84 4%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Abdullah Abdulwahab Al-Ramadhan Non-Executive Chairman 12-May-12
2 Mr. Mubashar Maqbool Executive Managing Director / Chief Executive Officer 12-Mar-19
3 Mr. Rana Assad Amin Non-Executive Director 24-Aug-17
4 Mr. Faisal Adnan Al-Hunaif Non-Executive Director 3-Jul-15
5 Mr. Naveed Alauddin Non-Executive Director 12-Feb-12
6 Mr. Abdullah Salah A. Al-Sayer Non-Executive Director 23-May-18
7
8
9
10
11
12
13
14
15
14 Pak Brunei Investment Company
Company Information PBIC

Development Finance Institution to make investments in the
M/o Finance industrial and agro based industrial fields in Pakistan on
Company
commercial basis.

Govt. of Brunei 50% Non-Executives 59
Others 0% Total 97

Cost of Sales 178 (25) 114%
Operating Expenses 303 (9) 103%
Tax 98 123 26%
Balance Sheet
Trade Receivables 9,065 4,549 -50%
Fixed Asset 19,748 20,539 4%
Total Assets 60,295 57,754 -4%
Current Liabilities 100 620 520%
Non-Current Liabilities 48,020 47,063 -2%
Equity 10,083 10,689 6%
Dividends

Executive 32 38 19%
Total 95 97 2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Sofian Mohammad Jani Non-Executive Chairman 25-Sep-14
2 Mr. Arif Ahmed Khan Non-Executive
Chairman, Audit Committee and Credit and Risk Management Committee 22-Apr-19
3 Mr. Edzwan Zukri Adanan Non-Executive Chairman, HR Committee 30-May-17
4 Ms. Ayesha Aziz Executive CEO/MD 27-Mar-19
5
6
7
8
9
10
11
12
13
14
15
15 Saudi Pak Industrial and Agricultural Investment Company Limited
Company Information SPIAICL

Unlisted Public Limited Development Finance Institution to invest in the industrial and agro-
M/o Finance
Company based industrial projects in Pakistan on commercial basis.

Govt. of Saudi Arabia 50% Non-Executives 150
Others 0% Total 166

Operating Expenses (77) 328 525%
Tax 291 140 -52%
Balance Sheet
Trade Receivables 2,818 80 -97%
Fixed Asset 7,865 7,870 0%
Other Non-Current Assets 3,117 3,226 3%
Total Assets 19,191 37,283 94%
Equity 12,649 13,200 4%
Dividends

Executive 14 16 14%
Total 169 166 -2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr Sultan M. Hasan Abdulrauf Non-Executive Chairman 1-Jul-19
2 Mr. Zafar Hasan Non-Executive Deputy Chairman 21-Mar-19
3 Mr. Rayyan M. H. Nagadi Non-Executive Dircetor 1-Jul-19
4 Mr. Mohammad Tanvir Butt Non-Executive Dircetor 20-Mar-19
5 Mr. Majid Misfer J. Alghamdi Non-Executive Dircetor 1-Jul-19
6 Mr. Qumar Sarwar Abbasi Non-Executive Dircetor 21-Mar-19
7
8
9
10
11
12
13
14
15
16 State Life Insurance Corporation
Company Information SLIC
Financial Insurance 1972 PSC - Commercial

M/o Commerce Life, health and accident insurance business
Company

Employee Empowerment Trust 4% Non-Executives 4,010

Revenue/ Net Sales 114,962 112,633 -2%
Cost of Sales 70,339 95,876 36%
Operating Expenses 94,089 57,042 -39%
Other Expenses 88,592 148,641 68%
Other Income 182,680 205,683 13%
Finance Cost 2,621 2,826 8%
Tax 879 815 -7%
Net Profit/ (Loss) 1,741 2,011 15%
Balance Sheet
Current Assets 739,056 781,259 6%
Fixed Asset - - -
Other Non-Current Assets 8,737 920 -89%
Total Assets 931,111 1,059,649 14%
Current Liabilities 891,148 -
Other Non-Current Liabilities 15,423 1,022,616 6530%
Non-Current Liabilities 924,948 1,052,189 14%
Revaluation Surplus (100) -
Equity 6,163 7,460 21%
Total Liabilities & Equity 931,111 1,059,649 14%
Dividends
Dividend Received by GOP 1,214 550 -55%

Executive 3 3 0%
Total 4,192 4,013 -4%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Muhammad Younus Dhaga Executive Chairman 27-Nov-18
2 Mr. Muhammad Bashir Khan Executive Director 1-Jun-18
3 Mr. Iftikhar Ul Hassan Executive Director 1-Jun-18
4 Mr. Ghaisuddin Ahmed Independent Director 1-Jun-18
5 Mr. Qadir Memon Independent Director 1-Jun-18
6 Mr. Ali Mubashir Kazmi Independent Director 1-Jun-18
7 Mr. Saeedullah Khan Niazi Executive Director 16-Dec-19
8
9
10
11
12
13
14
15
17 National Insurance Company Limited
Company Information NICL
Financial Insurance 2000 PSC - Commercial

Unlisted Public Limited Life Insurance business of public property, comprising fire, marine,
M/o Commerce
Company aviation and transportation, engineering etc.

Employee Empowerment Trust 12% Non-Executives 588
Others 0% Total 596

Cost of Sales 2,387 2,387 0%
Other Expenses 1,338 1,237 -8%
Other Income 1,338 5,283 295%
Tax 1,005 1,006 0%
Net Profit/ (Loss) 1,868 1,867 0%
Balance Sheet
Trade Receivables 24 38,487 160265%
Current Assets 38,487 24
Fixed Asset - 173 -
Other Non-Current Assets 173 20,240 11599%
Non-Current Assets 20,243 -
Total Assets 60,301 60,298 0%
Short Term Borrowings 18,448 -
Reserves/ Others 12,600 -
Equity 35,230 35,230 0%
Dividends

Executive 8 8 0%
Total 625 596 -5%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 AASIM AZIM SIDDIQUI Independent CHAIRMAN 31-May-18
2 SHAFQAAT AHMED Independent DIRECTOR 31-May-18
3 SYED RAFEO BASHIR SHAH Executive DIRECTOR & ACTING CEO 1-Jun-20
4 DR. RASHID MANZOOR Non-Executive DIRECTOR 31-May-18
5 MANZOOR ALI SHAIKH Non-Executive DIRECTOR 4-Feb-19
6 TARIQ JAMIL Independent DIRECTOR 29-Nov-19
7
8
9
10
11
12
13
14
15
18 Pakistan Reinsurance Company Limited
Company Information PRCL
Financial Insurance 1952 (2000) PSC - Commercial

Listed Public Limited Providing reinsurance services to the Government and Private
M/o Commerce
Company Insurance Companies in Pakistan

SLICO 24% Non-Executives 195

Other Income 2,355 3,504 49%
Tax 255 314 23%
Balance Sheet
Fixed Asset - - -
Total Assets 25,548 31,838 25%
Other Current Liabilities 17 -
Equity 11,124 9,622 -14%
Dividends

Executive 2 3 50%
Total 195 198 2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Abdul Sami Kehar Independent Chairman 16-Mar-17
2 Mr. Mumtaz Ali Rajper Non-Executive Director 16-Mar-17
3 Mr. Muslah ud din Non-Executive Director 16-Mar-17
4 Mrs. Maria Kazi Non-Executive Director 30-Dec-19
5
6
7
8
9
10
11
12
13
14
15
19 Karachi Port Trust
Company Information KPT
Ports & Shipping 1886 PSC - Commercial
ITC
M/o Ports & Shipping Federal Authority Port Operations

- 0% Non-Executives 4,699

Cost of Sales - - -
Other Expenses - - -
Other Income 1,355 1,661 23%
Tax - - -
Net Profit/ (Loss) 1,146 703 -39%
Balance Sheet
Cash & Bank Balance 956 1,818 90%
Other Current Assets 27,711 28,588 3%
Fixed Asset 49,816 48,860 -2%
Non-Current Assets 152,295 150,701 -1%
Total Assets 183,825 183,970 0%
Trade Payables - 9,025 -
Short Term Borrowings - 4,598 -
Other Current Liabilities 13,496 -
Long Term Loans 10,812 15,897 47%
Other Non-Current Liabilities - - -
Total Liabilities 24,308 29,520 21%
Equity 159,517 154,449 -3%
Dividends

Total 4,871 4,723 -3%
Government Support
During the Year
5 Foreign Loans 598 10 -98%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 12,922 52,901 309%
13 Guarantees - - -
Board of Directors
1 Rear Admiral Jamil Akhtar Executive Chairman 23-Nov-17
2 Mr. Siraj Kassam Teli Executive Vice Chariman 11-Dec-18
3 Vice Admiral Zahid Illyas Executive Trustee 30-Dec-19
4 Mr. Yarwar Babat Executive Trustee 11-Dec-18
5 Mr. Wasim Akhtar Executive Trustee 11-Dec-18
6 Mr. Mahmood Baqi Moulvi Independent Trustee 11-Dec-18
7 Mr. Khawaja Tahir Mahmood Independent Trustee 11-Dec-18
8 Mr. Babar Bashir Nawaz Non-Executive Trustee 11-Dec-18
9
10
11
12
13
14
15
20 Pakistan National Shipping Corporation
Company Information PNSC
ITC
Listed Public Limited Shipping including charter of vessels, transportation of cargo, Real
M/o Ports & Shipping
Company Estate Business


Cost of Sales 7,971 8,154 2%
Other Income 1,715 1,815 6%
Tax 213 260 22%
Net Profit/ (Loss) 1,421 2,194 54%
Balance Sheet
Other Current Assets 6,945 4,601 -34%
Fixed Asset 22,158 33,104 49%
Total Assets 37,530 45,055 20%
Trade Payables 2,507 2,294 -9%
Long Term Loans 1,744 7,336 321%
Revaluation Surplus 1,245 1,238 -1%
Reserves/ Others 131 5 -96%
Equity 31,337 32,608 4%
Dividends

Executive - 423 -
Total 670 680 1%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Rizwan Ahmed Non-Executive Chairman 4-Dec-17
2 Dr. Sohail Rajput Non-Executive Director 6-Jul-19
3 Mr. Kamran Farooq Non-Executive Director 31-May-18
4 Mr. Ali Syed Non-Executive Director 31-May-18
5 Mr. Muhammad Ali Non-Executive Director 31-May-18
6 Mr. Khowaja Obaid Imran Non-Executive Director 28-Oct-19
7 Capt. Anwar Shah Non-Executive Director 28-Oct-19
8
9
10
11
12
13
14
15
21 Port Qasim Authority
Company Information PQA
ITC
Provides shore based facilities and services of adequate water
M/o Ports & Shipping Federal Authority depth in the channel, berths/terminals, cargo handling equipment,
godowns, storage areas and facilities for safe transit of vessels


Revenue/ Net Sales 20,679 -
Cost of Sales - -
Gross Profit/(Loss) 20,679 -
Operating Expenses 11,676 -
Other Expenses - -
Other Income 681 -
Finance Cost - -
Tax 2,905 -
Net Profit/ (Loss) 6,779 -
Balance Sheet
Cash & Bank Balance 34,899 -
Other Current Assets 27,709 -
Fixed Asset 12,223 -
Other Non-Current Assets 2,455 -
Total Assets 80,766 -
Trade Payables 25,115 -
Short Term Borrowings - -
Long Term Loans 1 -
Other Non-Current Liabilities 19,045 -
Non-Current Liabilities 19,046 -
Total Liabilities 44,460 -
Share Capital 4,183 -
Accumulated Profit/(Loss) 32,123 -
Revaluation Surplus - -
Reserves/ Others - -
Equity 36,306 -
Total Liabilities & Equity 80,766 -
Dividends

Executive 15 15 0%
Non-Executive 2,007 2,007 0%
Total 2,022 2,022 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
22 Gawadar Port Authority
Company Information GPA
ITC
M/o Ports & Shipping Federal Authority Port related services at Gawadar Port

Government of Pakistan 100% Executives -
Others 0% Total 302

Revenue/ Net Sales - 67 -
Cost of Sales - - -
Gross Profit/(Loss) - 67 -
Operating Expenses - 55 -
Other Expenses - 593 -
Other Income - - -
Finance Cost - - -
Tax - 0 -
Net Profit/ (Loss) - (582) -
Balance Sheet
Trade Receivables 77 -
Total Assets 19,151 20,008 4%
Trade Payables 74 75 2%
Long Term Loans - 25 -
Non-Current Liabilities - 25 -
Total Liabilities 93 162 75%
Equity 19,058 19,846 4%
Dividends

Executive 2 - -100%
Total 307 302 -2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Chairman GPA 0 Chairman 24-Jun-05
2 DG (P&S) 0 Member 24-Jun-05
3 JS 0 Member 24-Jun-05
4 AS III 0 Member 24-Jun-05
5 DG 0 Member 24-Jun-05
6 GM 0 Member 24-Jun-05
7 ACS 0 Member 24-Jun-05
8 JS 0 Member 24-Jun-05
9 AS-I 0 Member 24-Jun-05
10 Chairman 0 Member 24-Jun-05
11
12
13
14
15
23 Pakistan Railways
Company Information PR
Railways 1861 PSC - Commercial
ITC
M/o Railways Federal Authority Providing transportation services


Cost of Sales 16,526 -
Other Income 6 6 0%
Tax - - -
Net Profit/ (Loss) (36,622) (32,769) 11%
Balance Sheet
Long Term Loans 67,000 -
Share Capital 235,645 -
Accumulated Profit/(Loss) (36,924) -
Equity 257,982 -
Dividends

Executive 15 15 0%
Total 75,000 75,000 0%
Government Support
During the Year
14 Subsidies 38,400 37,000 -4%
15 Guarantees - - -
Outstanding -
10 Loans 11,488 9,404 -18%
13 Guarantees - - -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
24 Karachi Urban Transport Corporation
Company Information KUTC
Roads & Highways 2008 PSC - Commercial
ITC
M/o Railways Provide transport facilities in the city of Karachi
Company

Govt. of Sindh 21% Non-Executives 7
Others 12% Total 10

Revenue/ Net Sales - - -
Cost of Sales - - -
Gross Profit/(Loss) - - -
Operating Expenses 9 -
Other Income 23 -
Finance Cost - - -
Tax 4 -
Net Profit/ (Loss) 10 -
Balance Sheet
Trade Receivables - -
Other Current Assets 16 -
Current Assets 386 -
Fixed Asset 3 -
Non-Current Assets 76 -
Total Assets 462 -
Trade Payables 1 -
Other Current Liabilities - -
Long Term Loans - -
Other Non-Current Liabilities - -
Non-Current Liabilities - -
Total Liabilities 1 -
Share Capital 120 -
Accumulated Profit/(Loss) (23) -
Revaluation Surplus 364 -
Equity 461 -
Total Liabilities & Equity 462 -
Dividends

Executive 3 3 0%
Total 10 10 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
25 National Highway Authority
Company Information NHA
ITC
Construction, development, operations and repair and maintenance
M/o Communication Federal Authority of national highways and strategic roads entrusted by the Federal
and Provincial Governments


Cost of Sales - - -
Other Expenses 102,938 -
Other Income 5,308 9,025 70%
Finance Cost 58,774 63,102 7%
Tax 659 620 -6%
Net Profit/ (Loss) (140,748) (173,792) -23%
Balance Sheet
Current Assets 108,786 134,898 24%
Fixed Asset 3,472,114 3,433,806 -1%
Non-Current Assets 4,136,571 4,300,860 4%
Total Assets 4,245,357 4,435,758 4%
Long Term Loans 1,039,673 1,300,396 25%
Non-Current Liabilities 1,069,939 1,341,438 25%
Share Capital - - -
Accumulated Profit/(Loss) - (794,637) -
Reserves/ Others 2,310,490 2,912,041 26%
Equity 2,310,490 2,117,404 -8%
Dividends

Executive 5 2 -60%
Total 3,291 3,282 0%
Government Support
During the Year
5 Foreign Loans 64,957 154,518 138%
7 Domestic Loans 195,575 75,580 -61%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 752,601 945,600 26%
13 Guarantees - - -
Board of Directors
1 Capt (Retd) Sikander Qayyum Executive Chairman 19-Jun-19
2 Mr. Allah Dino Khowaja Executive Member 0-Jan-00
3 Mr. Muhammad Tanvir Butt Executive Member 0-Jan-00
4 Mr. Altaf Asghar Executive Member 0-Jan-00
5 Mr. Hameed Akhtar Executive Member 0-Jan-00
6 Dr. Tahir Mahmood Hayat Executive Member 0-Jan-00
7 Mr. Malik Ahmad Khan Executive Member 0-Jan-00
8 Mr. Muhammad Nasir Ali Executive Member 0-Jan-00
9 Mr. Muhammad Naveed Iqbal Executive Member 0-Jan-00
10
11
12
13
14
15
26 Karachi Infrastructure Development Company Limited
Company Information KIDCL
ITC
M/o Communication Infrastructure Development Services
Company

Others 0% Total 50

Revenue/ Net Sales 62 -
Cost of Sales - -
Gross Profit/(Loss) 62 -
Other Expenses 0 -
Other Income 26 -
Finance Cost - -
Tax - -
Net Profit/ (Loss) (8) -
Balance Sheet
Fixed Asset 24 -
Other Non-Current Assets - -
Trade Payables 643 -
Long Term Loans - -
Non-Current Liabilities 5 -
Share Capital 200 -
Accumulated Profit/(Loss) 32 -
Equity 232 -
Dividends

Executive 3 3 0%
Total 50 50 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
27 Pakistan International Airlines Corporation
Company Information PIA
Infrastructure, Transport & 2015 (incorporated under
Aviation PSC - Commercial
ITC Special Enactment in
Provides commercial air transportation, which includes passenger,
Aviation Division cargo and postal carriage services. Other activities include provision
Company
of engineering and allied services


Cost of Sales 132,979 151,998 14%
Gross Profit/(Loss) (15,000) 12,649 184%
Other Income - (9,223) -
Finance Cost 21,108 36,387 72%
Tax (935) 42 104%
Net Profit/ (Loss) (66,827) (56,121) 16%
Balance Sheet
Fixed Asset 205,029 225,733 10%
Total Assets 262,992 298,799 14%
Trade Payables 167,729 193,867 16%
Short Term Borrowings 34,447 31,580 -8%
Long Term Loans 164,562 211,433 28%
Equity (266,877) (329,573) -23%
Dividends

Executive 15 18 20%
Non-Executive 16,666 15,358 -8%
Total 16,681 15,376 -8%
Government Support
During the Year
7 Domestic Loans - 17,864 -
14 Subsidies - - -
15 Guarantees - - -
16 Equity Injection 36,000 70 -100%
Outstanding -
10 Loans 13,719 15,067 10%
13 Guarantees 156,277 212 -100%
Board of Directors
1 Mr. Atif Aslam Bajwa Independent Director 7-Jun-17
2 Mr. Navaid Hasib Malik Independent Director 7-Jun-17
3 Mr. Tariq Kirmani Independent Director 7-Jun-17
4 Mr. Farrukh Hussain Independent Director 7-Jun-17
5 Mr. Muhammad Ali Tabba Independent Director 7-Jun-17
6 Mr. Haque Nawaz Independent Director 20-Nov-17
7 Air Marshal Arshad Mahmood Malik Executive CEO 20-Oct-18
8 Mr. Naveed Kamran Baloch Non-Executive Director 24-May-19
9 Mr. Hassan Nasir Jami Non-Executive Director 2-Dec-19
10 Dr. Syed Pervaiz Abbas Non-Executive Director 2-Dec-19
11
12
13
14
15
28 National Telecommunication Corporation
Company Information NTC
Communication 1996 PSC - Commercial
ITC
M/o Information
Technology & IT and Telecommunication Services to Government
Company
Telecommunication

Gross Profit/(Loss) - (319) -
Other Income - 380 -
Finance Cost - 8 -
Tax - 32 -
Net Profit/ (Loss) - 20 -
Balance Sheet
Cash & Bank Balance - 635 -
Trade Receivables - 2,735 -
Other Current Assets - 3,608 -
Other Current Liabilities - 394 -
Total Liabilities - 2,856 -
Share Capital - - -
Accumulated Profit/(Loss) - 7,627 -
Equity - 9,510 -
Dividends

Executive 6 7 17%
Total 2,304 2,215 -4%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Shohaib Ahmad Siddiqi Non-Executive Chairman 20-Jul-19
2 Mr. Ahmed Mujtaba Memon Non-Executive Member 20-Jul-19
3 Mr. Sabahat Ali Shah Non-Executive Member 20-Jul-19
4
5
6
7
8
9
10
11
12
13
14
15
29 Pakistan Post Office
Company Information PPO
ITC
M/o Communication Federal Authority Postal Services


Gross Profit/(Loss) 11,741 (4,968) 142%
Other Income - - -
Tax - - -
Net Profit/ (Loss) (10,500) (9,135) 13%
Balance Sheet
Fixed Asset 1,020 -
Long Term Loans 789 -
Other Non-Current Liabilities - -
Share Capital - -
Accumulated Profit/(Loss) - -
Equity - -
Dividends

Executive 39 39 0%
Total 28,045 28,045 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Akhlaque Rana Executive Chairman 2-Sep-19
2 Mr. Arshad Ali Khan Executive Member 7-May-18
3 Mr. Ejaz Ahmed Minhas Executive Member 22-Nov-18
4 Mr. Irfan Anwar Baloch Executive Member 3-Nov-18
5 Mr. Hafiz Sher Ali Executive Member 10-Oct-19
6 Mr. Jabran Khalil Executive Member 3-Oct-18
7 Private Members Executive Member 13-Mar-19
10
11
12
13
14
15
30 Pakistan Telecommunication Company Limited
Company Information PTCL
ITC
M/o Information
Listed Public Limited Largest Telecommunications business in Pakistan providing
Technology &
Company landline, wireless and other products across Pakistan
Telecommunication
Etisalat 26% Non-Executives 17,979

Gross Profit/(Loss) - 33,881 -
Other Income - 6,157 -
Finance Cost - 9,203 -
Tax - 1,259 -
Net Profit/ (Loss) - 2,377 -
Balance Sheet
Cash & Bank Balance - 7,171 -
Other Current Assets - 63,771 -
Long Term Loans - 20,316 -
Total Liabilities - 262,380 -
Share Capital - 51,000 -
Equity - 83,438 -
Dividends
Dividend Received by GOP - 4,757 -

Executive - 21 -
Non-Executive - 17,979 -
Total - 18,000 -
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Shohaib Ahmad Siddiqi Non-Executive Chairman -
2 Mr. Abdul Rahim Nooryani Non-Executive Director -
3 Mr. Naveed Kamran Baloch Non-Executive Director -
4 Mr. Rizwan Malik Non-Executive Director -
5 Mr. Hateem Dowidar Non-Executive Director -
6 Syed Sabhat Ali Shah Non-Executive Director -
7 Mr. Sekran Okandran Non-Executive Director -
8 Mr. Hashim Ali Qasmi Non-Executive Director -
9 Mr. Khalifa Shamsi Non-Executive Director -
10
11
12
13
14
15
31 State Engineering Corporation (Private) Limited
Company Information SEC
Metals and Mining 1973 PSC - Commercial
Engineering
M/o Industries and
Private Limited Company Managing investment in subsidiary companies
Production


Revenue/ Net Sales 59 55 -6%
Cost of Sales - 4 -
Gross Profit/(Loss) 59 51 -13%
Finance Cost - - -
Tax 4 4 0%
Net Profit/ (Loss) (3) (10) -300%
Balance Sheet
Trade Receivables 27 22 -17%
Other Current Assets 244 277 14%
Fixed Asset 559 559 0%
Total Assets 3,009 2,844 -6%
Trade Payables 43 -
Long Term Loans 168 188 12%
Reserves/ Others 2,879 2,395 -17%
Equity 2,781 2,589 -7%
Dividends

Executive 42 42 0%
Total 1,823 1,819 0%
Government Support
During the Year
7 Domestic Loans 38 20 -48%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 23 36 58%
13 Guarantees - - -
Board of Directors
1 C.E.O SEC, Isla,abad (Vacant) 0 - 8-Jul-18
2 Dr. Nawaz Ahmed Non-Executive Director 30-Sep-19
3 Ms. Saira Imdad Ali Non-Executive Director 29-Jul-19
4 CEO, EDB Non-Executive CEO 23-Jul-14
5 Mr. Abdul Muneem Khan Non-Executive Director 23-Jul-14
6 Maj. Gen Zaheer Ahmed khan Independent Chairman 23-Jul-14
7 Mr. Imtiaz Ur Raheem Independent Director 23-Jul-14
8 Mr. Saleem Rajput Independent Director 23-Jul-14
9
10
11
12
13
14
15
32 Heavy Mechanical Complex (Private) Limited
Company Information HMCL
Engineering
M/o Industries and Manufacturers of Cement, Sugar, Boilers and Power Plants, Road
Private Limited Company
Production Rollers, Cranes, Heavy casting and forging


Cost of Sales 2,992 2,163 -28%
Tax 2 4 128%
Net Profit/ (Loss) (295) (9) 97%
Balance Sheet
Fixed Asset 3,086 2,956 -4%
Other Non-Current Assets - - -
Total Assets 5,995 5,495 -8%
Short Term Borrowings 920 1,257 37%
Other Non-Current Liabilities 910 873 -4%
Non-Current Liabilities 910 873 -4%
Total Liabilities 6,298 5,794 -8%
Reserves/ Others - 51 -
Equity (302) (299) 1%
Dividends

Executive 7 6 -14%
Total 1,933 2,053 6%
Government Support
During the Year
7 Domestic Loans 300 - -100%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 68 102 51%
13 Guarantees - - -
Board of Directors
1 Mr.Muhammad Naeem Non-Executive CHAIRMAN 8-Nov-16
2 AslamUmer Non-Executive MEMBER 7-Sep-18
3 Muhammad Saeed ur Rehman Non-Executive MEMBER 7-Sep-18
4 Mr. Muhammad Ajmal Gondal Non-Executive MEMBER 8-Jan-19
5 Mr. Abid Mumtaz Malik Non-Executive MEMBER 26-Sep-17
6 Mr. Tariq Javed Non-Executive MEMBER 31-Jul-19
7 Dr. Sajid Raza Chaudhry Non-Executive MEMBER 11-Jun-19
8 Mr. Abdul Qayyum Non-Executive MEMBER 13-Sep-17
9 Mr. Ansar Hussain Shamsi Non-Executive MEMBER 8-Nov-16
10 Mr.Jahanzeb Khan Non-Executive MEMBER 19-Sep-17
11 Mr. Azam Hanif Zuberi Non-Executive MEMBER 8-Nov-16
12 Engr. Zaheer Shah Executive MANAGING DIRECTOR 1-Jan-19
13
14
15
33 Karachi Shipyard and Engineering Works Limited
Company Information KSY&EWL
Engineering
M/o Defence Production Ship-building, Ship repairs and heavy general engineering
Company

Pakistan Navy 18% Non-Executives 2,350

Cost of Sales 2,912 3,157 8%
Gross Profit/(Loss) 1,012 845 -17%
Finance Cost 2 2 8%
Tax 205 149 -27%
Balance Sheet
Fixed Asset 6,667 10,415 56%
Total Assets 15,668 20,279 29%
Accumulated Profit/(Loss) 786 1,270 62%
Equity 4,752 5,236 10%
Dividends

Executive 2 2 0%
Total 2,413 2,352 -3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Admiral Zafar Mehmood Abbasi Executive Chairman 7-Oct-17
2 Rear Admiral Azhar Saleem Non-Executive Managing Director 31-May-18
3 Rear Admiral Adnan Khaliq Executive Director 26-Nov-18
4 Rear Admiral Ahmed Fauzan Non-Executive Director 3-Oct-19
5 Maj General Akif Non-Executive Director 28-May-19
6 Brigadier Muhammad Shafi Non-Executive Director 26-Apr-18
7 Mr. Ali Hussain Malik Non-Executive Director 31-Jul-19
8 Syed Munsif Reza Independent Director 15-Nov-07
9 Mr. Naveed A Khan Independent Director 15-Nov-07
10
11
12
13
14
15
34 Telephone Industries of Pakistan
Company Information TIP
Engineering
M/o Information
Technology & Private Limited Company Manufacturing of telecommunication and allied equipment
Telecommunication
Others 0% Total 184

Gross Profit/(Loss) (84) 2 102%
Tax 15 14 -7%
Net Profit/ (Loss) (49) (100) -104%
Balance Sheet
Other Current Assets 59 1,710 2799%
Current Assets 359 2,010 460%
Non-Current Assets 1,610 21 -99%
Trade Payables 298 273 -8%
Equity (5,141) (5,749) -12%
Dividends

Executive 44 43 -2%
Total 197 184 -7%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees 1,100 -
Board of Directors
1 Federal Minister Non-Executive Chairman 28-Aug-18
2 Secretary MOITT Non-Executive Member 15-Jul-19
3 MD TIP Non-Executive Member 9-May-18
4 Joint Secretary Privatization Division Non-Executive Member 22-May-19
5 Deputy Secretary (CFIII) MOF Non-Executive Member 17-Jan-18
6 Member (Telecom) MOITT Non-Executive Member -
7 MEMBER (Legal) MOITT Non-Executive Member -
8 Joint Secretary (Development) MOITT Non-Executive Member -
9
10
11
12
13
14
15
35 Pakistan Steel Mills Corporation (Private) Limited
Company Information PSM
Engineering
Deals in manufacturing, preparing and production of iron steel and
M/o Industries and metals of all kinds, descriptions, shapes and dimensions and
Private Limited Company
Production whether ferrous or non-ferrous and all products and by-products
thereof

Cost of Sales 8,217 5,716 -30%
Gross Profit/(Loss) (7,689) (5,248) 32%
Finance Cost 5,273 10,601 101%
Tax 32 40 23%
Net Profit/ (Loss) (16,041) (16,550) -3%
Balance Sheet
Fixed Asset 128,985 361,840 181%
Total Assets 149,406 409,679 174%
Equity (52,686) 181,566 445%
Dividends

Executive 10 10 0%
Total 10,275 9,466 -8%
Government Support
During the Year
7 Domestic Loans 4,560 6,515 43%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 16,398 20,890 27%
13 Guarantees 40,800 41 -100%
Board of Directors
1 Mr. Aamir Mumtaz Independent Chairman 5-Sep-19
2 Capt. (R) Sher Alam Mahsud Non-Executive CEO / Member 25-Jul-19
3 Dr. Imran Ullah Khan Non-Executive Member 30-Oct-18
4 Mr. Iftekhar Hussain Naqvi Non-Executive Member 13-Sep-19
5 Mr. Munir K. Bana Independent Member 6-Mar-17
6 Mr. Aamir A. Allawala Independent Member 6-Mar-17
7 Mr. Asif Jabbar Khan Independent Member 6-Mar-17
8 Sheikh Muhammad Asif Independent Member 6-Mar-17
9
10
11
12
13
14
15
36 Peoples Steel Mills Limited
Company Information PSML
Engineering
M/o Industries and Unlisted Public Limited
Steel Manufacturing
Production Company

- 0% Non-Executives -
Others 0% Total -

Cost of Sales - - -
Other Income - - -
Finance Cost - - -
Tax - - -
Net Profit/ (Loss) - - -
Balance Sheet
Cash & Bank Balance - - -
Fixed Asset - - -
Non-Current Assets - - -
Total Assets - - -
Non-Current Liabilities - - -
Share Capital - - -
Accumulated Profit/(Loss) - - -
Equity - - -
Total Liabilities & Equity - - -
Dividends

Executive - - -
Non-Executive - - -
Total - - -
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
37 Saindak Metals Limited
Company Information SML
Engineering
M/o Energy Metals mining
Company

Others 0% Total 72

Cost of Sales - - -
Other Expenses 155 -
Tax 222 391 76%
Balance Sheet
Cash & Bank Balance 4,849 177 -96%
Other Current Assets - #VALUE! -
Fixed Asset 3,221 2,911 -10%
Total Assets 9,026 9,995 11%
Other Current Liabilities 965 16,942 1656%
Share Capital 0 0 -23%
Equity (7,697) (6,983) 9%
Dividends

Executive 1 1 0%
Total 58 72 24%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Muhammad Raziq Sanjrani Executive Director / CEO 27-Oct-08
2 Syed Tauqir Hussain Non-Executive Director 8-Apr-15
3 Mr. Muhammad Iqbal Non-Executive Director 11-Apr-17
4 Mr. Sajid Mehmood Qazi Non-Executive Director 1-Mar-19
5 Mr. Zahid Saleem Non-Executive Director 24-Oct-18
6 Mr. Abdul Rehman Buzdar Non-Executive Director 16-Apr-19
7 Dr. Tanveer Ahmed Qureshi Non-Executive Director 6-Nov-18
8
9
10
11
12
13
14
15
38 Pakistan Mineral Development Corporation (Private) Limited
Company Information PMDC
Engineering
Mining, exploration, development, exploitation and marketing of
M/o Energy Private Limited Company
mineral deposits e.g. salt, coal, silica sand and gypsum


Cost of Sales 1,827 1,763 -3%
Finance Cost 20 -
Tax 63 97 54%
Balance Sheet
Other Current Assets 1,659 543 -67%
Total Assets 2,687 2,629 -2%
Current Liabilities 583 555 -5%
Total Liabilities 1,087 903 -17%
Accumulated Profit/(Loss) 401 428 7%
Equity 1,601 1,727 8%
Dividends

Executive 1 1 0%
Total 1,439 1,374 -5%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Shams-ud-Din Ahmed Shaikh Non-Executive Director/ Chairman BoDs 5-Apr-19
2 Mr. Muhammad Daud Non-Executive Director 5-Apr-19
3 Mr. Sajid Mehood Qazi, Joint Secretary (Admin) Ministry ofExecutive
Energy (Petroleum Division) CEO/ Managing Director 5-Apr-19
4 Mr. Irshad Ali Khokhar Independent Director 5-Apr-19
5 Ms. ShahnazAkhtar Non-Executive Director 22-Jul-19
6 Ms. Huma Ejaz Zaman Non-Executive Director 5-Apr-19
7 Muhammad Iqbal Independent Director 5-Apr-19
8 Mr. Ijaz Ali Khan Independent Director 5-Apr-19
9 Syed Tauqir Hussain Independent Director 5-Apr-19
10
11
12
13
14
15
39 Pakistan Industrial Development Corporation (Private) Limited
Company Information PIDC
Engineering
To promote economic & industrial development in collaboration
M/o Industries and
Private Limited Company with Public & Private sectors; and To facilitate in the establishment
Production
of a conducive environment for industrial growth

Others 0% Total 102

Cost of Sales - 284 -
Finance Cost - 5 -
Tax 95 259 174%
Balance Sheet
Total Assets 12,187 12,658 4%
Trade Payables 196 1,232 529%
Current Liabilities 363 1,454 301%
Total Liabilities 372 2,263 508%
Equity 11,815 10,395 -12%
Dividends

Executive 5 5 0%
Total 116 102 -12%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Muhammad Ishaq Butt Non-Executive Chairman 26-Jun-14
2 Mr. Abdul Jabbar Shaheen Non-Executive Director 4-Oct-18
3 Mr. Rizwan Ahmed Bhatti Executive CEO 9-Aug-19
4 Mr. Sher Ayub Khan Executive Director 20-May-16
5 Dr. Imran Ullah Khan Executive Director 16-Mar-18
6 Mr. Shakeel Ahmed Mangnejo Executive Director 22-Jan-18
7 Mr. Ghulam Sarwar Khan Independent Director 26-Jun-14
8 Prince Muhammad Isa Jan Independent Director 26-Jun-14
9 Mr. Sheikh Lutuf Ur Rahman Independent Director 26-Jun-14
10 Ms. Bushara Naz Malik Non-Executive Director 31-May-16
11 Mr. Muhammad Ali Independent Director 31-May-16
12
13
14
15
40 Pakistan Environmental Planning & Architectural Consultants (Private) Limited
Company Information PEPAC
Engineering Consultancy 1974 PSC - Commercial
Engineering
Providing Architectural, Environmental planning, feasibility studies
M/o Climate Change Private Limited Company
and Engineering services

Others 0% Total 66

Other Income 1 -
Tax 2 -
Net Profit/ (Loss) 6 (29) 618%
Balance Sheet
Current Assets 133 120 -10%
Non-Current Assets 4 4 -10%
Total Assets 137 124 -10%
Accumulated Profit/(Loss) 70 41 -41%
Equity 71 42 -40%
Total Liabilities & Equity 137 124 -10%
Dividends

Executive 2 -
Total 79 66 -16%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Secretary Ministry of Climate Change Executive Chairman 9-May-17
2 AFS-CF, Finance Division Executive Director 9-May-17
3 AS MoPDSI Executive Director 9-May-17
4 Chairman (P&D), Government of Punjab Executive Director 9-May-17
5 Additional Chief Secretary (P&D), Government of Sindh Executive Director 9-May-17
6 Additional Chief Secretary (P&D), Government of KPK Executive Director 9-May-17
7 Additional Chief Secretary (P&D), Government of Baluchistan
Executive Director 9-May-17
8 DG Pak-EPA, M/O Climate Change Executive Director 9-May-17
9 Mr. Najeebur Rahman Khan Executive Managing Director 9-May-17
10 Dr. Ifthikhar Hussain Independent Director 9-May-17
11 Dr. Fazal Ahmed Khalid Independent Director 9-May-17
12 Mr. Sikandar Ajam Independent Director 9-May-17
13 Dr. Zain Ul Abidin Independent Director 9-May-17
14
15
41 National Engineering Services Pakistan (Private) Limited
Company Information NESPAK
Engineering
Engaged in providing engineering consultancy services in Pakistan
M/o Energy Private Limited Company
and abroad


Cost of Sales - - -
Gross Profit/(Loss) 8,484 7,149 -16%
Finance Cost 3 3 0%
Tax 250 100 -60%
Balance Sheet
Fixed Asset 1,114 1,063 -5%
Total Assets 16,429 17,442 6%
Trade Payables 3,718 4,090 10%
Other Current Liabilities 101 50 -50%
Revaluation Surplus 8 -
Equity 12,012 12,679 6%
Dividends

Executive 5 6 20%
Total 2,821 2,764 -2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Irfan Ali Non-Executive Chairman 21-Jun-17
2 Dr. Tahir Masood Executive Managing Director 13-Jul-18
3 Mr. Sikandar Qayyum Non-Executive Director 21-Jun-17
4 Mr. Hamed Yaqoob Sheikh Non-Executive Director 21-Jun-17
5 Mr. Muhammad Waseem Non-Executive Director 21-Jun-17
6 Mr. Shakeel Qadir Khan Non-Executive Director 21-Jun-17
7 Mr. Abdul Rehman Buzdar Non-Executive Director 21-Jun-17
8 Dr. Ahmed Mujtaba Memon* Non-Executive Director 21-Jun-17
9 Mr. Waseem Mukhtar Non-Executive Director 21-Jun-17
10 Mr. Naeemuddin Khan Independent Director 21-Jun-17
11 Mr. Muhammad Irfan Akram Independent Director 21-Jun-17
12 Mr. Muhammad Nawaz Kasuri Independent Director 21-Jun-17
13
14
15
42 STEDEC Technology Commercialization Corporation of Pakistan (Private) Limited
Company Information STEDEC
Engineering
M/o Science & Technology Private Limited Company Manufacturing of Agro-Chemicals

Others 0% Total 37

Tax 3 2 -36%
Balance Sheet
Other Current Assets 91 86 -5%
Fixed Asset 3 3 4%
Short Term Borrowings 9 11 34%
Total Liabilities 31 22 -27%
Accumulated Profit/(Loss) 27 26 -3%
Equity 99 98 -1%
Dividends

Executive 10 10 0%
Total 37 37 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Capt. (Retd) Nasim Nawas Non-Executive Chairman 24-Apr-19
2 Mr. Habib Ullah Khan Executive Member 28-Nov-19
3 Mr. Muhammad Javad Ilyas Executive Member 28-Nov-19
4 Mr. Fuad Hashim Rabbani Independent Member 28-Nov-19
5 Mr. Mujeeb Rashid Independent Member 10-Jun-14
6 Dr. Quratulain Syed Executive Member 4-Oct-18
7
8
9
10
11
12
13
14
15
43 National Security Printing Company (Formally Pakistan Security Printing Corporation (Private) Limited)
Company Information NPCL
Printing 1949 PSC - Commercial
Engineering
M/o Finance Private Limited Company Printing of bank note and other security documents

Others 0% Total 157

Cost of Sales 1,683 2,927 74%
Tax 490 548 12%
Net Profit/ (Loss) 641 1,527 138%
Balance Sheet
Total Assets 11,531 11,534 0%
Trade Payables - 420 -
Current Liabilities 2,339 708 -70%
Equity 7,944 9,498 20%
Dividends

Executive - - -
Total 181 157 -13%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Dr. Arshad Mahmood Non-Executive Chairman 17-Sep-18
2 Mr. Muhammad Misbah Tunio Executive Managing Director 17-Sep-18
3 Mr. Usman Yousaf Mobin Non-Executive Director 17-Sep-18
4 Mr. Ishrat Ali Non-Executive Director 17-Sep-18
5 Muhammad Akhlaque Rana Non-Executive Director 2-Sep-19
6
7
8
9
10
11
12
13
14
15
44 Printing Corporation of Pakistan (Private) Limited
Company Information PCPL
Printing 1969 PSC - Commercial
Engineering
Cabinet Division Private Limited Company Providing printing services to the GoP

Others 0% Total 536

Gross Profit/(Loss) (68) 307 549%
Tax - 8 -
Net Profit/ (Loss) (406) (124) 70%
Balance Sheet
Total Assets 2,109 1,908 -10%
Short Term Borrowings 3 -
Equity (3,101) (3,301) -6%
Dividends

Executive 1 1 0%
Total 586 536 -9%
Government Support
During the Year
7 Domestic Loans 1,577 -
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - 323 -
13 Guarantees - - -
Board of Directors
1 Mr. Maroof Afzal Non-Executive Chairman 24-May-19
2 Flit Lt (Retd) Muhammad Siddique Sheikh Non-Executive Vice Chariman 14-May-19
3 Mr. Muhammad Asif Khan Non-Executive Member 2-May-19
4 Mr. Muhammad Bilal Independent Member 14-Jun-17
5 Ms. Sumaira K Aslam Independent Member 20-May-15
6 Mr. Khurram Shazad Bilal Independent Member 20-May-15
7 Ms. Shaheen Independent Member 3-Aug-17
8 Director Finance 0 0 -
9
10
11
12
13
14
15
45 Government Holdings (Private) Limited
Company Information GHPL
Exploration &
Oil & Gas 2000 PSC - Commercial
Development
M/o Energy Private Limited Company Exploration and Production of Oil & Gas

0% Non-Executives 61
Others 0% Total 127

Cost of Sales 89,205 190,968 114%
Other Income 1,839 2,665 45%
Tax 15,478 21,918 42%
Net Profit/ (Loss) 28,069 34,179 22%
Balance Sheet
Current Assets 98,800 150,892 53%
Fixed Asset 31,123 30,882 -1%
Total Assets 150,621 205,964 37%
Equity 103,025 132,581 29%
Dividends
Dividend Received by GOP 5,000 5,000 0%

Executive 54 66 22%
Total 125 127 2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Ms. Ayla Majid Independent Chairperson 28-Jun-18
2 Mian Asad Hayaud Din Non-Executive Director 19-Sep-18
3 Dr. Tanveer Ahmad Qureshi Non-Executive Director 15-Oct-18
4 Mr. Muhammad Anwer Shiekh Non-Executive Member 10-Jan-13
5 Syed Tauqir Hussain Non-Executive Director 7-Feb-13
6 Mr. Shahid Yousaf Non-Executive Director 6-Aug-15
7 Mr. Zahid Nazeer Bhatti Executive Director 26-Sep-18
8
9
10
11
12
13
14
15
46 Oil and Gas Development Company Limited
Company Information OGDCL
Exploration &
Development
M/o Energy Exploration and Production of Oil and Gas
Company


Cost of Sales 83,855 94,420 13%
Other Income 19,083 37,154 95%
Finance Cost 1,730 1,693 -2%
Tax 33,890 58,214 72%
Net Profit/ (Loss) 78,737 118,386 50%
Balance Sheet
Current Assets 405,858 509,786 26%
Fixed Asset 224,993 117,787 -48%
Total Assets 666,478 766,597 15%
Trade Payables 55,195 49,478 -10%
Equity 550,557 625,365 14%
Dividends
Dividend Received by GOP 30,633 34,582 13%

Non-Executive 13,164 12,723 -3%
Total 13,193 12,742 -3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Qamar Javaid Sharif Non-Executive Chairman Board 8-Apr-19
2 Capt Retd Fazeel Asghar Non-Executive Director 11-Sep-19
3 Mian Asad Hayauddin Non-Executive Director 7-Sep-18
4 Mr. Muhammad Ayub Chaudhry Non-Executive Director 26-Dec-19
5 Mr. Akbar Ayub Khan Independent Director 8-Apr-19
6 Mr. Saeed Ahmed Qureshi Independent Director 8-Apr-19
7 Ms. Sadia Khan Independent Director 8-Apr-19
8 Mr. Nessar Ahmed Independent Director 8-Apr-19
9 Mr. Saud S. Khawaja Independent Director 8-Apr-19
10 Mr. Naveed Kamran Baloch Non-Executive Director 2-Jul-19
11 Dr. Naseem Ahmad Executive CEO 31-Jul-19
12
13
14
15
47 Pakistan Petroleum Limited
Company Information PPL
Exploration &
Development
Listed Public Limited Exploration, Prospecting, Development and Production of oil and
M/o Energy
Company natural gas resources


Cost of Sales 52,320 64,801 24%
Other Income 9,397 15,679 67%
Tax 17,793 18,378 3%
Net Profit/ (Loss) 45,826 59,459 30%
Balance Sheet
Current Assets 182,459 261,742 43%
Fixed Asset 155,774 161,554 4%
Total Assets 369,962 462,614 25%
Share Capital 19,717 22,675 15%
Equity 240,449 298,204 24%
Dividends
Dividend Received by GOP 13,311 1,997 -85%

Executive 1,264 1,263 0%
Total 2,944 2,765 -6%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Shamsul Islam Independent Chairman 26-Jun-19
2 Mr. Abdul Jabbar Memon Non-Executive Director 26-Jun-19
3 Mr. Abid Sattar Independent Director 26-Jun-19
4 Mr. Mian Imtiaz Uddin Independent Director 26-Jun-19
5 Mr. Balak Sher Mari Independent Director 26-Jun-19
6 Mr. Sajid Mehmood Qazi Non-Executive Director 10-Apr-18
7 Mr. Sheryar Taj Non-Executive Director 10-Apr-18
8 Ms. Tahira Reza Independent Director 26-Jun-19
9 Dr. Tanvir Ahmed Qureshi Non-Executive Director 2-Oct-18
10 Mr. Moin Reza Khan Executive CEO 7-Jan-19
11
12
13
14
15
48 Pak Arab Refinery Company
Company Information PARCO
Oil & Gas Refineries 1974 PSC - Commercial

M/o Energy Refinery
Company

Govt. of Arab Emirates 40% Non-Executives 998

Cost of Sales 251,241 303,843 21%
Other Expenses 1,383 169 -88%
Other Income 8,138 9,596 18%
Tax 7,756 5,359 -31%
Net Profit/ (Loss) 18,517 12,335 -33%
Balance Sheet
Current Assets 119,054 121,819 2%
Fixed Asset 24,436 30,124 23%
Total Assets 155,489 164,401 6%
Equity 96,477 95,435 -1%
Dividends
Dividend Received by GOP - 7,800 -

Executive 358 358 0%
Total 1,356 1,356 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees 607 -
Board of Directors
1 Mr. Khalifa Al Suwaidi Non-Executive Chairman 25-Oct-18
2 Mr. Tariq Rizawi Non-Executive Vice Chariman 29-Jun-17
3 Mr. Ali Al Daheri Non-Executive Director 12-Sep-11
4 Mr. Arif Ahmed Khan Executive Director 29-Jun-17
5 Mr. Sher Afghan Khan Executive Director 17-May-18
6 Mr. Khalfan al Qemzi Non-Executive Director 17-May-18
7 Mr. Maximillan Grasserbauer Non-Executive Director 13-Jan-19
8
9
10
11
12
13
14
15
49 State Petroleum Refining & Petrochemical Corporation
Company Information PERAC
Oil & Gas Refineries 0 PSC - Commercial

M/o Energy Refinery
Company

- 0% Non-Executives -
Others 100% Total -

Cost of Sales - - -
Other Income - - -
Finance Cost - - -
Tax - - -
Balance Sheet
Fixed Asset - - -
Total Assets - - -
Share Capital - - -
Equity - - -
Dividends

Executive - - -
Non-Executive - - -
Total - - -
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
50 Sui Southern Gas Company Limited
Company Information SSGC
Oil & Gas Marketing & Distribution 1955 PSC - Commercial

Listed Public Limited Transmission and distribution of natural gas in the province of
M/o Energy
Company Sindh and Balochistan


Cost of Sales - - -
Other Income - - -
Finance Cost - - -
Tax - - -
Balance Sheet
Fixed Asset - - -
Total Assets - - -
Share Capital - - -
Equity - - -
Dividends

Executive 2,407 2,407 0%
Total 11,492 11,492 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 24 24 0%
13 Guarantees - 32 -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
51 Pakistan State Oil Company Limited
Company Information PSO

M/o Energy Oil Marketing Company
Company


Revenue/ Net Sales 1,056,900 1,154,298 9%
Cost of Sales 1,017,264 1,118,281 10%
Other Income 7,911 7,512 -5%
Finance Cost 5,123 8,939 74%
Tax 11,699 6,890 -41%
Net Profit/ (Loss) 15,462 10,587 -32%
Balance Sheet
Current Assets 378,104 384,225 2%
Fixed Asset 7,327 8,187 12%
Total Assets 402,562 417,079 4%
Trade Payables 192,145 180,043 -6%
Equity 110,452 119,180 8%
Dividends

Executive 72 68 -6%
Total 2,679 2,587 -3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Zafar I Usmani Independent Chairman 21-Feb-19
2 Mr. Syed Jhengir Ali Shah Executive Managing Director 3-Jun-19
3 Mr. Zaid Mir Non-Executive Member 21-Feb-19
4 Mr. Muhammad Anwar Non-Executive Member 21-Feb-19
5 Mr. Sajid Ahmed Qazi Non-Executive Member 21-Feb-19
6 Mr. Qazi Muhammad Saleem Siddiqui Non-Executive Member 21-Feb-19
7 Mr. Irfan Ali Non-Executive Member 21-Feb-19
8 Mr. Tara Uzra Dawood Independent Member 21-Feb-19
9 Mr. Muhammad Shahid Khan Independent Member 21-Feb-19
10 Mr. Muhammad Humayoun Khan Independent Member 21-Feb-19
11
12
13
14
15
52 Sui Northern Gas Pipelines Limited
Company Information SNGPL

M/o Energy Purchase, transmission, distribution and supply of natural gas.
Company


Cost of Sales 476,786 718,742 51%
Other Income 14,159 18,512 31%
Finance Cost 10,805 25,777 139%
Tax 4,354 4,073 -6%
Net Profit/ (Loss) 11,121 7,076 -36%
Balance Sheet
Current Assets 267,094 424,631 59%
Fixed Asset 190,610 200,838 5%
Total Assets 461,157 629,382 36%
Trade Payables 233,791 354,172 51%
Long Term Loans 50,835 39,330 -23%
Equity 18,677 21,042 13%
Dividends
Dividend Received by GOP 1,507 1,417 -6%

Executive 1,484 1,484 0%
Total 9,062 9,062 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees 43,000 43 -100%
Board of Directors
1 Ms. Roohi Raees Khan Independent Chairman 20-Apr-19
2 Mr. Amer Tufail Executive Managing Director 3-Oct-19
3 Mr. Ahmad Aqeel Non-Executive Director 26-Jun-17
4 Mr. Himayat Ullah Khan Independent Director 20-Apr-19
5 Mirza Mahmood Ahmad Non-Executive Director 26-Jun-17
6 Mr. Manzoor Ahmed Independent Director 26-Jun-17
7 Mian Misbah-ur-Rehman Non-Executive Director 26-Jun-17
8 Mr. Naveed Kamran Baloch Non-Executive Director 19-Jun-19
9 Mr. Mustafa Ahmad Khan Independent Director 26-Jun-17
10 Mr. Muhammad Ayub Chaudhry Non-Executive Director 30-Dec-19
11 Sardar Ahmad Nawaz Sukhera Non-Executive Director 27-Apr-19
12 Dr. Sohail Razi Khan Independent Director 7-May-19
13 Mr. Sajid Mehmood Qazi Non-Executive Director 28-Aug-19
14
15
53 Faisalabad Electric Supply Company Limited
Company Information FESCO
Power DISCOs 1998 PSC - Commercial

M/o Energy Electricity Distribution
Company

WAPDA 0% Non-Executives 15,409

Cost of Sales 155,042 176,517 14%
Other Income 4,252 5,748 35%
Tax 5,112 974 -81%
Net Profit/ (Loss) (39,771) (8,057) 80%
Balance Sheet
Fixed Asset 94,451 97,760 4%
Total Assets 157,649 173,430 10%
Long Term Loans 4,561 4,486 -2%
Equity (20,402) (42,562) -109%
Dividends

Executive 7 6 -14%
Non-Executive 16,028 15,409 -4%
Total 16,035 15,415 -4%
Government Support
During the Year
5 Foreign Loans 1,088 89 -92%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 5,110 4,861 -5%
13 Guarantees - - -
Board of Directors
1 Mr. Khurram Mukhtar Non-Executive Chairman 1-Jan-18
2 Mr. Shafiq Ul Hassan Executive CEO 4-Aug-19
3 Mr. Ishrat Ali Non-Executive Director 29-Nov-19
4 Dr. Khurram Tariq Independent Director 1-Jan-18
5 Syed Aly Murtazza Independent Director 1-Jan-18
6 Mr. Abdul Hameed Chaudary Independent Director 1-Jan-18
7 Mr. Ihsaan Afzal Khan Independent Director 1-Jan-18
8 Mr. Saadullah Khan Non-Executive Director 1-Jan-18
9 Mr. Akhlaq Ahmad Syed Non-Executive Director 1-Jan-18
10 Mr. Shaheryar Arshad Chishty Non-Executive Director 1-Jan-18
11 Mr. Javed Iqbal Khan Non-Executive Director 1-Jan-18
12 Lt. Col. (R) Syed Saleem Ahmad Non-Executive Director 1-Jan-18
13
14
15
54 Hyderabad Electric Supply Company Limited
Company Information HESCO

Company


Cost of Sales 63,825 71,099 11%
Other Income 2,813 3,190 13%
Tax 523 575 10%
Net Profit/ (Loss) (21,701) (6,753) 69%
Balance Sheet
Current Assets 100,282 115,394 15%
Fixed Asset 40,376 43,024 7%
Total Assets 140,669 159,987 14%
Equity (102,750) (110,376) -7%
Dividends
Dividend Declared - -
Dividend Received by GOP - -

Executive 26 31 19%
Total 8,479 8,268 -2%
Government Support
During the Year
5 Foreign Loans 855 1,224 43%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 6,487 6,224 -4%
13 Guarantees - - -
Board of Directors
1 Engr. Shaikh Jamil Gul Independent Chairman -
2 Mr. Muhammad Yaqoob Executive Directors -
3 Engr. Irfan Ahmed Independent Directors -
4 Syed Zahir Hasan Rizvi Independent Directors -
5 Mr. Muhammad Rashid Hussain Independent Directors -
6 Mr. Shahid Zaki Independent Directors -
7 Mr. Ali Ahmed Palh Independent Directors -
8 Ms. Hina Talpur Executive Directors -
9
10
11
12
13
14
15
55 Quetta Electric Supply Company Limited
Company Information QESCO

Company


Cost of Sales 66,222 74,777 13%
Other Income 4,094 -
Tax 366 1,056 188%
Net Profit/ (Loss) (24,255) (36,832) -52%
Balance Sheet
Current Assets 132,091 166,699 26%
Fixed Asset 61,464 85,756 40%
Total Assets 215,740 252,476 17%
Long Term Loans 47,009 12,173 -74%
Share Capital 0 -
Equity (62,033) (103,068) -66%
Dividends

Executive 5 5 0%
Total 6,426 6,426 0%
Government Support
During the Year
5 Foreign Loans 2,052 -
7 Domestic Loans - 81 -
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 11,679 11,343 -3%
13 Guarantees - - -
Board of Directors
1 Mr. ABDUL KHALIQ BALOCH Executive Chairman -
2 Mr. Muhammad Arif Executive Directors -
3 Mr. SOHAIL AKBAR SHAH Non-Executive Directors -
4 Mr.SYED SHARAFUDIN Non-Executive Directors -
5 Mr.MIR KABEER AHMED Non-Executive Directors -
6 Mr. RAI UMER POONEGAR Independent Directors -
7 Mr.MIR WAIS KHAN ACHAKZAI Independent Directors -
8 Mr. HUSSAIN ISLAM Independent Directors -
9 SYED AHMAR ALI Independent Directors -
10
11
12
13
14
15
56 Tribal Electric Supply Company Limited
Company Information TESCO

Company


Cost of Sales 16,539 18,854 14%
Tax - - -
Net Profit/ (Loss) 1,766 4,309 144%
Balance Sheet
Fixed Asset 8,217 10,053 22%
Total Assets 75,026 92,714 24%
Long Term Loans 205 19,341 9335%
Equity (30,024) (25,597) 15%
Dividends

Executive 36 36 0%
Total 1,381 1,381 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 439 37 -92%
13 Guarantees - - -
Board of Directors
1 BoD dissloved since 2010 0 0 -
2
3
4
5
6
7
8
9
10
11
12
13
14
15
57 Peshawar Electric Supply Company Limited
Company Information PESCO

Company


Cost of Sales 142,942 169,014 18%
Other Income 6,487 7,406 14%
Finance Cost 3,400 2,870 -16%
Tax 1,183 1,517 28%
Net Profit/ (Loss) (42,986) (29,263) 32%
Balance Sheet
Current Assets 185,136 220,081 19%
Fixed Asset 67,949 72,106 6%
Total Assets 253,104 292,200 15%
Trade Payables 257,190 354,243 38%
Equity (227,666) (261,746) -15%
Dividends

Executive 7 7 0%
Non-Executive 15,002 13,709 -9%
Total 15,009 13,716 -9%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 6,142 6,332 3%
13 Guarantees - - -
Board of Directors
1 Mr. Zulfiqar Ahmad Independent Member 17-Feb-17
2 Mr. Ahmad Dildar, Independent Member 17-Feb-17
3 Sardar Muhammad Tariq Independent Member 17-Feb-17
4 Mr. Munir Azam, Non-Executive Member 16-Jan-19
5 Muhammad Zubair Non-Executive Member 30-Aug-19
6 Dr. Muhammad Amjad Khan Executive Member 18-May-18
7
8
9
10
11
12
13
14
15
58 Lahore Electric Supply Company Limited
Company Information LESCO

Company


Cost of Sales 238,306 279,352 17%
Other Income 5,627 7,641 36%
Finance Cost 1,200 1,415 18%
Tax - - -
Net Profit/ (Loss) (56,635) (31,621) 44%
Balance Sheet
Current Assets 121,182 175,318 45%
Fixed Asset 78,968 86,722 10%
Total Assets 200,963 262,657 31%
Trade Payables 113,923 198,864 75%
Long Term Loans 177,954 169,695 -5%
Equity (147,198) (154,494) -5%
Dividends

Executive 19 9 -53%
Non-Executive 22,203 21,508 -3%
Total 22,222 21,517 -3%
Government Support
During the Year
5 Foreign Loans 459 - -100%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 6,237 5,690 -9%
13 Guarantees - - -
Board of Directors
1 Mr. Shaheryar Arshad Chishty Independent Chairman 20-Nov-17
2 Mr. M. Irfan Akram Independent Member BOD 30-Sep-16
3 Mr. Abdul Qayyum Malik Independent Member BOD 30-Sep-16
4 Mr. Muhammad Nawaz Kasuri Independent Member BOD 30-Sep-16
5 Mr. Saadullah Khan Independent Member BOD 20-Nov-17
6 Syed Akhlaq Ahmad Independent Member BOD 20-Nov-17
7 Mr. M. Zargham Eshaq Khan Non-Executive Member BOD 10-Apr-16
8 Mr. Muhammad Anwer Sheikh Non-Executive Member BOD 11-Feb-16
9 Dr. Muhammad Mujtaba Piracha Independent Member BOD -
10 Mr. Mujahid Pervaz Chattha Executive Member BOD 2-Jan-18
11
12
13
14
15
59 Islamabad Electric Supply Company Limited
Company Information IESCO

Company


Cost of Sales 115,304 132,916 15%
Other Income 3,185 3,675 15%
Finance Cost 1,868 1,657 -11%
Tax 1,225 1,639 34%
Net Profit/ (Loss) (27,337) (7,593) 72%
Balance Sheet
Current Assets 115,896 134,254 16%
Fixed Asset 93,657 99,836 7%
Total Assets 209,781 234,278 12%
Trade Payables 104,511 138,137 32%
Long Term Loans 15,640 7,053 -55%
Equity 14,597 8,968 -39%
Dividends

Executive 13 13 0%
Total 12,755 12,755 0%
Government Support
During the Year
5 Foreign Loans 656 2,087 218%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 7,400 7,862 6%
13 Guarantees - - -
Board of Directors
1 Mr. Saad Ullah Khan Independent Chairman 20-Nov-17
2 Mr. Naeem Iqbal Independent Director 20-Nov-17
3 Mr. Raheel Ijaz Independent Director 20-Nov-17
4 Mr. Shaheryar Chisty Independent Director 20-Nov-17
5 Mr. Syed Akhlaq Ahmed Independent Director 20-Nov-17
6 Mr. Zafeer Abbasi Independent Director 20-Nov-17
7 Mr. Zafar Abbas Non-Executive Director 18-Feb-19
8 Dr. Ahmed Mujtaba Memon Non-Executive Director 22-Mar-18
9 Mr. Muhammad Mahmood Non-Executive Director 4-Dec-19
10 Mr. Shahid Iqbal Chaudry Executive Director 2-Nov-18
11
12
13
14
15
60 Gujranwala Electric Power Company Limited
Company Information GEPCO

Company


Cost of Sales 110,311 127,211 15%
Other Income 1,844 2,928 59%
Tax 3 773 25667%
Net Profit/ (Loss) (5,036) 6,496 229%
Balance Sheet
Fixed Asset 46,792 49,947 7%
Total Assets 128,967 130,209 1%
Trade Payables 27,733 22,605 -18%
Share Capital - 0 -
Reserves/ Others 18,943 8,257 -56%
Equity 5,863 211 -96%
Dividends

Executive 8 7 -13%
Non-Executive 12,630 11,895 -6%
Total 12,638 11,902 -6%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 4,370 4,131 -5%
13 Guarantees - - -
Board of Directors
1 Mr. Ghiasuddin Ahmad-Chairman BOD Independent Director 18-Nov-16
2 Mr. Lt. Col (R) Shah Jahan Khan Independent Director 20-Nov-13
3 Mr. Saadullah Khan Independent Director 20-Nov-17
4 Mr. ShaheryarArshadChishty Independent Director 20-Nov-17
5 Mr. Akhlaq Ahmad Syed Independent Director 20-Nov-17
6 Prof. Dr. Mrs. FarhatSaleemi Non-Executive Director 18-Nov-16
7 Mr. Tariq Viqar Bakhshi Non-Executive Director 13-Feb-19
8 Lt. Col ( R ) Syed Saleem Ahmed Non-Executive Director 30-Aug-19
9 Mr. Muhammad Anwer Sheikh- Representative of Finance
Non-Executive
Division Director 13-Oct-15
10 Mr. Zahid Akhtar Zaman Commissioner Gujranwala Division
Non-Executive Director 2-Dec-19
11 Mr. Waqas Ali Mehmood Commissioner Gujranwala Division.
Non-Executive Director 20-Feb-19
12 Mr. Zulfiaqar Ahmed Ghumman Commissioner GujranwalaNon-Executive
Division Director 12-Oct-19
13 Mr. MohsinRaza Khan- Executive CEO/ Director 23-Nov-18
14
15
61 Multan Electric Power Company Limited
Company Information MEPCO

Company


Cost of Sales 192,694 225,725 17%
Other Income 5,832 6,572 13%
Finance Cost 1,133 2,290 102%
Tax - - -
Net Profit/ (Loss) (33,825) (22,782) 33%
Balance Sheet
Current Assets 123,939 111,654 -10%
Fixed Asset 87,811 97,990 12%
Total Assets 222,912 220,635 -1%
Trade Payables 116,046 122,307 5%
Equity (64,811) (91,438) -41%
Dividends

Executive 10 9 -10%
Non-Executive 17,442 16,279 -7%
Total 17,452 16,288 -7%
Government Support
During the Year
5 Foreign Loans 1,211 489 -60%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 10,600 10,121 -5%
13 Guarantees - - -
Board of Directors
1 Mr. Akhlaq Ahmed Syed Independent Chairman 28-Dec-17
2 Mr. Saad Ullah Khan Independent Director 28-Dec-17
3 Mr. Shehyar Arshad Chishti Independent Director 28-Dec-17
4 Muhammad Anwer Sheikh Non-Executive Director 11-May-16
5 Mr. Khalid Masood Khan Independent Director 11-May-16
6 Mr. Zaffar Abbas Non-Executive Director 14-Oct-16
7 Tahir Mahmood Executive Director 2-Sep-19
8 Mr. Muhammad Sarfraz Independent Director 10-Jul-18
9 Mr.Imran Sikander Balooch Non-Executive Director 11-Feb-18
10
11
12
13
14
15
62 Sukkur Electric Power Company Limited
Company Information SEPCO

Company


Cost of Sales 46,430 53,130 14%
Other Income 3,187 2,075 -35%
Tax - - -
Net Profit/ (Loss) (10,156) (10,956) -8%
Balance Sheet
Current Assets 111,490 139,162 25%
Total Assets 137,029 164,458 20%
Trade Payables 46,712 15,975 -66%
Equity (110,755) (75,729) 32%
Dividends

Executive 6 2 -67%
Total 6,965 6,585 -5%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Nisar Ahmed Siddiqui Independent Chairman 17-Feb-17
2 Mr. Hassan Nasir Jami Non-Executive Director 17-Feb-17
3 Mr. Saeed Ahmed Dawach Executive CEO 17-Feb-17
4 Commissioner Sukkur Non-Executive Director 17-Feb-17
5 Commissioner Larkana Non-Executive Director 17-Feb-17
6 Mr. Wazir Ali Bhayo Independent Director 17-Feb-17
7 Mr. Abdul Aziz Shivani Independent Director 17-Feb-17
8 Syed Moharram Ali Shah Independent Director 17-Feb-17
9 Dr. Murad Khamisani Independent Director 17-Feb-17
10 Mr. Santosh Kumar Independent Director 17-Feb-17
11
12
13
14
15
63 GENCO-I: Jamshoro Power Company Limited
Company Information GENCO-I (JPCL)
Power GENCOs 1998 PSC - Commercial

M/o Energy Power Generation
Company

Directors & Others 0% Non-Executives 1,516

Cost of Sales 24,504 17,756 -28%
Operating Expenses 935 1,056 13%
Tax 469 218 -53%
Net Profit/ (Loss) 290 (1,613) 656%
Balance Sheet
Current Assets 26,510 15,233 -43%
Fixed Asset 8,742 13,448 54%
Total Assets 35,304 28,725 -19%
Trade Payables 20,805 10,913 -48%
Equity (6,371) (7,406) -16%
Dividends

Executive 9 14 56%
Total 1,563 1,530 -2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - 2 -
13 Guarantees - - -
Board of Directors
1 Engr. Abdul Malik Memon Independent Chairman 8-Feb-16
2 Mr. Salim Ahmed Mughal Independent Director 8-Feb-16
3 Mr. Danish Iqbal Independent Director 8-Feb-16
4 Mr. Muhammad Irfan Akram Independent Director 8-Feb-16
5 Mr. Muhammad Imran Mian Non-Executive CEO 8-Feb-16
6 Mr. Zafar Abbas Non-Executive Director 28-Jun-16
7 Mr. Javed Iqbal Khan Non-Executive Joint Secretary (BIU) 5-Oct-17
8 Mr. Munir Azam Non-Executive Additional Secretary-I 8-Feb-19
9 Syed Tanveer Ahmed Jafri Executive CEO 27-Aug-19
10
11
12
13
14
15
64 GENCO-II: Central Power Generation Company Limited , Thermal Power Station, Guddo
Company Information GENCO-II (CPGCL)

Company

Individuals 0% Non-Executives 1,830

Cost of Sales 54,854 68,562 25%
Operating Expenses 770 1,493 94%
Finance Cost 8,796 4,174 -53%
Tax 4,167 1,478 -65%
Net Profit/ (Loss) (3,836) 3,517 192%
Balance Sheet
Current Assets 32,785 72,009 120%
Fixed Asset 79,453 105,921 33%
Total Assets 112,287 177,930 58%
Trade Payables 39,475 89,955 128%
Equity (8,347) (2,274) 73%
Dividends

Executive 2 -
Total 1,963 1,830 -7%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees 0 -
Outstanding -
10 Loans 3,463 4,635 34%
13 Guarantees 40,700 45 -100%
Board of Directors
1 Mr. Syed Tahir Nawazish Independent Chairman 8-Feb-19
2 Mr. Nisar Ahmed Siddiqui Independent Director 8-Feb-19
3 Mr. Muhammad Aslam Shaikh Independent Director 8-Feb-19
4 Mr. Abdul Qayum Malik Independent Director 8-Feb-19
5 Mr. Sajjad Ahmed Non-Executive Director 13-Sep-19
6 Mr. Muhammad Imran Non-Executive Director 8-Feb-19
7 Mr. Hammad Amer Hashmi Executive CEO 1-Aug-19
8
9
10
11
12
13
14
15
65 GENCO-III: Northern Power Generation Company Limited, Thermal Power Station, Muzaffargarh
Company Information GENCO-III (NPGCL)

Company


Cost of Sales 75,237 48,699 -35%
Gross Profit/(Loss) (164) 2,803 1811%
Other Expenses 7 -
Finance Cost 2,422 2,835 17%
Tax (522) 189 136%
Net Profit/ (Loss) (1,959) (694) 65%
Balance Sheet
Current Assets 76,064 65,519 -14%
Fixed Asset 212,992 161,892 -24%
Total Assets 290,027 228,378 -21%
Trade Payables 109,179 95,725 -12%
Long Term Loans 24,342 21,554 -11%
Equity 116,307 82,220 -29%
Dividends

Executive 2 2 0%
Total 2,369 2,289 -3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 1,043 1,420 36%
13 Guarantees 24,715 22 -100%
Board of Directors
1 Prof. Dr. Tabrez Aslam Shami Independent Chairman 28-Feb-19
2 Mr. Muhammad Umar Khan Independent Director 28-Feb-19
3 Mr. Muhammad Irfan Akram Independent Director 28-Feb-19
4 Mr. Muhammad Akram Independent Director 28-Feb-19
5 Mr. Abdul Qayum Malik Independent Director 28-Feb-19
6 Mr. Muhammad Bashir Khetran Non-Executive Director 14-Nov-19
7 Mr. Muhammad Zargham Eshaq Khan Non-Executive Director 28-Feb-19
8 Muhammad Imran Mian Non-Executive Director 28-Feb-19
9 Mr. Sabeeh uz zaman Faruqui Executive CEO -
10
11
12
13
14
15
66 GENCO-IV: Lakhra Power Generation Company Limited
Company Information GENCO-IV (LPGCL)

Company

PMDC 50% Non-Executives 329

Cost of Sales 78 -
Gross Profit/(Loss) (38) -
Other Income 1,181 3,023 156%
Tax 0 0 -82%
Net Profit/ (Loss) 61 1,955 3095%
Balance Sheet
Total Assets 10,846 13,576 25%
Long Term Loans 11 9 -17%
Equity (6,435) (4,682) 27%
Dividends

Executive 1 1 0%
Total 344 330 -4%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 4 8 96%
13 Guarantees - - -
Board of Directors
1 Mr. Salim Ahmed Mughal Independent Chairman 8-Jun-17
2 Engr. Abdul Malik Memon Independent Director 8-Jun-17
3 Mr. Danish Iqbal Independent Director 8-Jun-17
4 Mr. Muhammad Irfan Akram Independent Director 8-Jun-17
5 Mr.Muhammad Imran Non-Executive Director 8-Jun-17
6 Mr.Ghulam Shabir Jatoi Executive Director 8-Apr-19
7 Mr.Sajjad Ahmed Non-Executive Director 19-Apr-19
8 Ms.Shahnaz Akhtar Non-Executive Director 7-May-19
9
10
11
12
13
14
15
67 Lakhra Coal Development Company Limited
Company Information LCDC

M/o Energy Develop and operate Coal Mines and Limestone quarries
Company

PMDC 50% Non-Executives 88
Others 50% Total 89

Gross Profit/(Loss) (49) (72) -47%
Tax 5 3 -37%
Balance Sheet
Equity 113 115 2%
Dividends

Executive 1 1 0%
Total 81 89 10%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Sajid Mehmood Qazi Executive Chairman 2-Mar-19
2 Mr. Muhammad Illyas Non-Executive Director 13-May-19
3 Mr. Muhammad Rashid Independent Director 1-Jan-17
4 Mr. Noor Muhammad Khan Independent Director 1-Jan-17
5 Mr Naveed Asghar Chudry Non-Executive Director 30-May-18
6 Mr. Ghulam Shabbir Jatoi Non-Executive Director 1-Jan-17
7 Mr. Abdul Majeed Zahid Independent Director 1-Jan-17
8
9
10
11
12
13
14
15
68 National Power Parks Management
Company Information NPPMCL
M/o Energy Private Limited Company RLNG power generation

Directors & Others 0% Non-Executives 81
Others 2% Total 92

Cost of Sales 27,217 122,997 352%
Other Income 1,290 3,494 171%
Tax 219 -
Net Profit/ (Loss) 3,283 18,993 479%
Balance Sheet
Fixed Asset 75,254 149,469 99%
Total Assets 212,397 251,858 19%
Long Term Loans 32,738 - -100%
Non-Current Liabilities 32,774 52 -100%
Share Capital 116,500 53,000 -55%
Equity 119,627 138,766 16%
Dividends

Executive 8 11 38%
Total 94 92 -2%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
16 Equity Injection - 38 -
Outstanding -
10 Loans 1,229 -
Board of Directors
1 Mr. Sheryar Arshad Chisti Executive Chairman 19-Dec-19
2 Mr. Zafar Abbas Executive Member 30-Apr-15
3 Mr. Shah Jahan Mirza Non-Executive Member 30-Apr-15
4 Mr. Tabrez Aslam Shami Non-Executive Member 19-Dec-19
5 Mr. Mahfusz-Ur-Rahman Pasha Non-Executive Member 19-Dec-19
6 Mr. Muhammad Irfan Akram Non-Executive Member 19-Dec-19
7 Mr. Nasir Gulzar Independent Member 19-Dec-19
8 Mr. Muhammad Bashir Khetran Independent Member 19-Dec-19
9 Mr. Dhanpat Kotak Independent Member 4-Sep-18
10
11
12
13
14
15
69 Water and Power Development Authority
Company Information WAPDA
M/o Energy Federal Authority Power Generation


Cost of Sales 27,490 38,151 39%
Other Income 4,198 4,100 -2%
Finance Cost 32,287 38,691 20%
Tax - - -
Net Profit/ (Loss) 605 (7,724) 1377%
Balance Sheet
Current Assets 262,828 298,128 13%
Fixed Asset 966,761 1,101,680 14%
Non-Current Assets 1,617,732 1,714,932 6%
Total Assets 1,880,560 2,013,060 7%
Long Term Loans 336,425 270,538 -20%
Share Capital 63,000 500,096 694%
Reserves/ Others 425,458 141,062 -67%
Equity 1,418,046 1,485,288 5%
Dividends

Executive 86 88 2%
Non-Executive 18,084 17,931 -1%
Total 18,170 18,019 -1%
Government Support
During the Year
5 Foreign Loans 20,928 11,127 -47%
7 Domestic Loans 2,100 2,600 24%
14 Subsidies - 146,860 -
15 Guarantees - - -
Outstanding -
10 Loans 119,576 173,877 45%
13 Guarantees 227,526 182 -100%
Board of Directors
1 Lt. Gen (R) Muzamil Hussain Non-Executive Chairman 23-Aug-16
2 Mr. Muhammad Ikram Khan Non-Executive Director 3-Oct-17
3 Mr. Abdul Zahir Khan Durrani Non-Executive Director 30-Jun-19
4 Mr. Muhammad Arshad Chaudry Non-Executive Director 12-Sep-17
5
6
7
8
9
10
11
12
13
14
15
70 National Transmission and Despatch Company
Company Information NTDC
Power Transmission 1998 PSC - Commercial

M/o Energy Transmission of Electricity
Company


Operating Expenses 17,141 -
Finance Cost 4,575 8,119 77%
Tax 1,261 2,801 122%
Net Profit/ (Loss) 14,736 11,236 -24%
Balance Sheet
Current Assets 108,110 111,233 3%
Fixed Asset 251,341 289,469 15%
Total Assets 360,417 401,813 11%
Trade Payables 27,356 20,712 -24%
Long Term Loans 75,118 97,784 30%
Equity 114,839 157,746 37%
Dividends
Dividend Received by GOP 464 1,159 150%

Total 8,598 11,841 38%
Government Support
During the Year
5 Foreign Loans 6,505 13,333 105%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 54,534 60,783 11%
13 Guarantees 22,460 44 -100%
Board of Directors
1 Mr. Babar Iqbal Independent Chairman 17-Oct-16
2 Mr. Ghiasudin Ahmed Independent Director 17-Oct-16
3 Mr. Mahfuz-ur-Rehman Pasha Independent Director 17-Oct-16
4 Mr. Nasir Gulzar Independent Director 17-Oct-16
5 Mr. Ajmal Jamil Independent Director 22-Jul-19
6 Dr. Noor Muhammad Shiekh Independent Director 23-May-19
7 Mr. Munir Azam Non-Executive Director 7-Feb-19
8 Mr. Shah Jahan Mirza Non-Executive Director 17-Oct-16
9 Mr. Abid Latif Lodhi Non-Executive Director 21-Aug-19
10 Mr. Zafar Abbas Executive Managing Director 19-Sep-18
11
12
13
14
15
71 Central Power Purchase Agency (Guarantee) Limited
Company Information CPPA (G)
Power Management 2009 PSC - Commercial

M/o Energy Power sector settlement agency
Company

Others 0% Total 206

Cost of Sales - - -
Other Income - - -
Finance Cost 1 1 4%
Tax (0) 61 132056%
Net Profit/ (Loss) (18) 84 571%
Balance Sheet
Trade Receivables 1,289,403 1,709,214 33%
Current Assets 1,369,325 1,827,786 33%
Total Assets 1,412,632 1,827,943 29%
Trade Payables 826,988 1,043,329 26%
Other Current Liabilities 15 784,508 5303119%
Current Liabilities 827,003 1,827,837 121%
Share Capital - - -
Equity 24 105 336%
Dividends

Executive 11 12 9%
Total 184 206 12%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 361 401 11%
13 Guarantees - - -
Board of Directors
1 Mr. Irfan Ali Non-Executive Chairman Board 31-Aug-18
2 Mr. Zargham Eshaq Khan Non-Executive Member Board 27-Dec-13
3 Mr. Zafar Abbas Non-Executive Member Board 7-Jul-17
4 Mr. Muhammad Imran Mian Non-Executive Member Board 16-Jan-15
5 Mr. Shahid Iqbal Chaudhry Non-Executive Member Board 5-Nov-18
6 Mr. Abid Latif Lodhi Executive CEO / Member 14-Mar-16
7 Miss. Ayla Majid Independent Member 10-Jan-13
8 Mr. Hamid Ali Khan Independent Member 10-Jan-13
9 Mr. Ghias ud Din Independent Member 10-Jan-13
10
11
12
13
14
15
72 Pakistan Electric Power Company (Private) Limited
Company Information PEPCO
M/o Energy Private Limited Company Management company under Ministry of Water & power

Others 0% Total 205

Revenue/ Net Sales - 471 -
Cost of Sales - 471 -
Gross Profit/(Loss) - 1 -
Other Income - 5 -
Finance Cost - 0 -
Tax - 6 -
Balance Sheet
Cash & Bank Balance - 7 -
Trade Receivables - 2 -
Other Current Assets - 62 -
Current Assets - 71 -
Fixed Asset - - -
Other Non-Current Assets - 7 -
Non-Current Assets - 7 -
Total Assets - 78 -
Trade Payables - 65 -
Other Current Liabilities - 6 -
Current Liabilities - 71 -
Total Liabilities - 71 -
Share Capital - 7 -
Equity - 7 -
Total Liabilities & Equity - 78 -
Dividends

Executive - - -
Total 203 205 1%
Government Support
During the Year
14 Subsidies 84,000 - -100%
15 Guarantees 20,000 - -100%
Outstanding -
10 Loans 561 552 -2%
13 Guarantees - - -
Board of Directors
1 Mr. Irfan Ali Executive Chairman 16-Nov-18
2 Mr. Waseem Mukhtar Executive Managing Director 28-Jul-18
3 Mr. M. Zargham Eshaq Khan Non-Executive Director 15-Jul-17
4 Mr. Rihan Akhtar Non-Executive Director 15-Jul-17
5 Mr. Khalid Masood Khan Independent Director 15-Jul-17
6
7
8
9
10
11
12
13
14
15
73 Power Holding (Private) Limited
Company Information PHPL
M/o Energy Private Limited Company Funding the repayment of liabilities of DISCOs

Others 0% Total 6

Cost of Sales - - -
Finance Cost 45,474 84,724 86%
Tax 1 5 335%
Balance Sheet
Current Assets 192,529 342,989 78%
Total Assets 642,840 919,611 43%
Short Term Borrowings 0 -
Long Term Loans 450,310 576,621 28%
Equity 51 64 26%
Dividends

Executive 1 1 0%
Total 6 6 0%
Government Support
During the Year
14 Subsidies - - -
Outstanding -
10 Loans - - -
13 Guarantees 568,961 806 -100%
Board of Directors
1 Mr.Irfan Ali Non-Executive Chairman 9-Jan-18
2 Mr.Muhammad Zargham Eshaq Khan Executive Chief Executive Officer 28-Apr-14
3 Mr. Muhammad Bilal Non-Executive Director 5-Mar-19
4 Mr.Sajjad Ahmed Non-Executive Director 2-Mar-18
5 Mr.Muhammad Anwer Non-Executive Director 18-Feb-16
6
7
8
9
10
11
12
13
14
15
74 Export Processing Zones Authority
Company Information EPZA
Industrial Estate Industrial Estate
1980 PSC - Commercial
Development Development
M/o Industries and Promotion and development of Export Processing Zones in the
Federal Authority
Production Country


Cost of Sales - - -
Other Income - - -
Finance Cost - - -
Tax 56 67 20%
Balance Sheet
Total Assets 5,068 5,716 13%
Share Capital - - -
Equity 2,991 3,173 6%
Dividends

Executive - 136 -
Total 767 717 -7%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Chairman Non-Executive Chairman 8-Mar-18
2 Chief Secretary Sindh Non-Executive Member 8-Mar-18
3 Chief Secretary Baluchistan Executive Member 8-Mar-18
4 Member Customs Executive Member 8-Mar-18
5 Additional Secretary-II Executive Member 8-Mar-18
6 CEO, TDAP Executive Member 8-Mar-18
7 President, FPCCI Executive Member 8-Mar-18
8 Mr. Mustafa Hemani Independent Member 8-Mar-18
9 Mr. Hassan Masood Khawaja Independent Member 8-Mar-18
10
11
12
13
14
15
75 National Construction Limited
Company Information NCL
M/o Housing & Works Construction and Allied activities
Company

Others 1% Total 66

Tax 16 24 52%
Balance Sheet
Total Assets 895 910 2%
Accumulated Profit/(Loss) 9 (31) 456%
Equity 208 168 -19%
Total Liabilities & Equity 895 910 2%
Dividends

Executive 2 2 0%
Total 66 66 0%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Dr. Imran Zeb Non-Executive Chairman 17-Apr-18
2 Mr. Yaseen Shar Baloch Non-Executive Director 29-Jan-19
3 Mr. Mohammad Asad Independent Director 5-May-16
4 Mr. Shahid Farzand Non-Executive Director 13-Apr-18
5 Mr. Muhammad Shahzad Non-Executive Director 25-Nov-18
6 Mr. Shahid Aziz Non-Executive Director 27-Nov-15
7 Mr. Karim Akram Khan Non-Executive Director 1-Nov-18
8 Engr. Athar Nawaz Malik Executive Director 21-Dec-17
9
10
11
12
13
14
15
76 Pakistan Expo Centers (Pvt) Ltd
Company Information PEC
Development and management of expo centers in various cities of
M/o Commerce Private Limited Company
Pakistan

Govt. of Punjab 3% Non-Executives 153
Others 0% Total 167

Tax 19 23 20%
Net Profit/ (Loss) (96) (236) -147%
Balance Sheet
Fixed Asset 6,112 6,119 0%
Equity 6,307 6,585 4%
Dividends

Executive 15 14 -7%
Total 177 167 -6%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Syed Yawar Ali Independent Director 31-May-18
2 Engr. Daroon Khan Independent Director 31-May-18
3 Mr. Engr. Maqsood Independent Director 31-May-18
4 Mr. Anwar Pervaiz Independent Director 31-May-18
5 Ghulam Farooq Independent Director 31-May-18
6 Agha Shahab Ahmed Khan Independent Director 31-May-18
7 Muhammad Suleh Ahmed Faruqui Non-Executive Director 31-May-18
8 Ms. Maria Kazi Non-Executive Director 31-May-18
9 Mr. Muhammad Zafar Iqbal Non-Executive Director 31-May-18
10 Mr. Amer Latif Non-Executive Director 31-May-18
11 Mr. Ghulam Ali Non-Executive Director 31-May-18
12 Dr. Nasim Ul Ghani Sehto Non-Executive Director 31-May-18
13
14
15
77 Pakistan Textile City
Company Information PTC
M/o Commerce Infrastructure Development Project
Company

Govt. of Sindh 16% Non-Executives 1
Others 44% Total 4

Cost of Sales - - -
Other Income - - -
Tax - - -
Net Profit/ (Loss) (107) (342) -220%
Balance Sheet
Fixed Asset 3,521 3,710 5%
Equity 46 (295) 742%
Dividends
Dividend Declared -
Dividend Received by GOP -

Executive 1 3 200%
Total 5 4 -20%
Government Support
During the Year
5 Foreign Loans - -
7 Domestic Loans - -
14 Subsidies 14 -
15 Guarantees - -
16 Equity Injection - -
Outstanding -
10 Loans - -
13 Guarantees - -
Board of Directors
1 Mr. Asif Maqsood Independent Chairman 3-Dec-14
2 Secretary, Ministry of Commerce Non-Executive Member 28-Feb-17
3 Mr. Iftikhar Ahmed Malik Non-Executive Member 3-Dec-14
4 JS, Investment Facilitation, MoIP Non-Executive Member 23-Nov-17
5 Sardar Azmat Babar Non-Executive Member 28-Dec-17
6 Secretary, Industry & Commerce Department, Government
Non-Executive
of Sindh Member 28-Dec-16
7 Chairman EPZA Non-Executive Member 21-Jun-17
8 Dr. Kazim Hussain Jatoi Non-Executive Member 3-Apr-17
9 Mr. Muhammad Faisal Hussain Israr Non-Executive Member 12-Jun-17
10 Mr. S.M Arshad Non-Executive Member 12-Jun-19
11 Vacant 0 0 -
12
13
14
15
78 Trading Corporation of Pakistan (Private) Limited
Company Information TCP
Trading & Marketing Trading 1967 PSC - Commercial
M/o Commerce Private Limited Company Import, Export, procurement, sale and storage of commodities

Others 0% Total 436

Cost of Sales - - -
Operating Expenses 1,016 785 -23%
Other Income 1,536 2,246 46%
Finance Cost - - -
Tax 140 376 168%
Net Profit/ (Loss) 380 1,086 186%
Balance Sheet
Current Assets 125,566 131,161 4%
Total Assets 126,288 141,408 12%
Equity 12,054 12,973 8%
Dividends

Executive 3 3 0%
Total 451 436 -3%
Government Support
During the Year
14 Subsidies 2,627 5,000 90%
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Riaz Ahmad Memon Executive Chairman/ CEO 15-Nov-18
2 Dr. Muhammad Hamid Ali Non-Executive Chairman Procurement Committee 8-Nov-19
3 Mr. Imtiaz Ali Gopang Non-Executive Chairman Nomination Committee 1-Jun-18
4 Dr. Imran Ullah Khan Non-Executive Member 22-Oct-18
5 Ms. Bushra Naz Malik Independent Member BOD/ Chairman Audit Committee 1-Jun-18
6 Ms. Javaria Tareen Independent Member BOD/ Chairman Human Resource Committee 1-Jun-18
7 Ms. Tasneem Yusuf Independent Member 1-Jun-18
8
9
10
11
12
13
14
15
79 Utility Stores Corporation (Private) Limited
Company Information USC
Trading & Marketing Trading 1971 PSC - Commercial

M/o Industries and
Private Limited Company Retail Chain Stores/Supply Chain Company
Production


Cost of Sales 24,879 24,879 0%
Tax 470 470 0%
Net Profit/ (Loss) (5,006) (5,006) 0%
Balance Sheet
Current Assets 34,883 28,216 -19%
Fixed Asset 4,277 4,224 -1%
Total Assets 39,166 32,445 -17%
Equity (2,399) (9,274) -286%
Dividends

Non-Executive 12,965 12,890 -1%
Total 12,988 12,901 -1%
Government Support
During the Year
14 Subsidies 4,313 6,130 42%
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Zulqiurnain Ali Khan Independent Chairman 12-Nov-18
2 Mr Umer Habib Khan Lodhi Executive CEO 3-May-18
3 Mr. Fareed Ahmad Agha Independent Director 12-Nov-18
4 Mr. Mohammad Saleem Rafiq Independent Director 12-Nov-18
5 Mr. Nadeem Ahsan Non-Executive Director 5-Dec-19
6 Dr. Imran Ullah Khan Non-Executive Director 12-Nov-18
7
8
9
10
11
12
13
14
15
80 Pakistan Agricultural Storage & Services Corporation Limited
Company Information PASSCO
Trading & Marketing Agricultural Storage 1973 PSC - Commercial

M/o National Food Unlisted Public Limited Procurement, disposal and maintaining strategic reserves of wheat
Security & Research Company and other commodities on behalf of Federal Government

NBP 18% Non-Executives 1,094

Cost of Sales 25,659 35,819 40%
Other Income 9,363 18,851 101%
Finance Cost 6,798 9,686 42%
Tax 316 351 11%
Net Profit/ (Loss) 408 1,592 291%
Balance Sheet
Current Assets 100,108 108,339 8%
Total Assets 101,188 109,002 8%
Trade Payables 894 1,080 21%
Equity 7,260 8,852 22%
Dividends

Executive 10 14 40%
Non-Executive 963 1,094 14%
Total 973 1,108 14%
Government Support
During the Year
14 Subsidies 14,032 6,989 -50%
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Dr. Muhammad Hashim Non-Executive Chairman 29-Aug-18
2 AFS, MoF Non-Executive Director -
3 Mr. Khurram Saeed Naik Non-Executive Director 1-Dec-06
4 Mr. Asif Bashir Non-Executive Director 13-Mar-15
5 Mr. Kashif Umair Thanvi Non-Executive Director 25-Nov-15
6 Mr. Hassan Nawaz Tarar Non-Executive Director 1-Jul-16
7 Mr. Muhammad Nadeem Chohan Non-Executive Director 3-Apr-18
8 Mr. Mir Amir Nawaz Non-Executive Director 8-Aug-19
9 Mr. Imran Nasir Khan Executive Director 8-Aug-19
10
11
12
13
14
15
81 National Fertilizer Corporation of Pakistan (Private) Limited
Company Information NFC
Trading & Marketing Chemicals 1973 PSC - Commercial

M/o Industries and
Private Limited Company Managing Subsidiary companies
Production

Others 0% Total 66

Cost of Sales 3,127 3,496 12%
Gross Profit/(Loss) 1,395 104 -93%
Other Income 120 2,084 1637%
Finance Cost 1 1 6%
Tax 440 182 -59%
Net Profit/ (Loss) (238) 583 345%
Balance Sheet
Fixed Asset 1,836 1,862 1%
Total Assets 15,074 14,676 -3%
Equity 9,526 9,958 5%
Dividends
Dividend Received by GOP 100 - -100%

Executive 19 22 16%
Total 64 66 3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Prince Muhammad Isa Jan Independent Chairman 12-Feb-15
2 Capt (R) Sher Aslam Mahasud Non-Executive CEO 4-Sep-19
3 Dr.Nawaz Ahmed Non-Executive Director 20-Mar-17
4 Mr. Nadeem Ahsan Non-Executive Director 16-Sep-19
5 Mr. Chaudry Hamid Malhi Independent Director 12-Feb-15
6 Mr. Usman Ghani Khatri Independent Director 12-Feb-15
7 Mr. Ifthikar Ahmed Jogezai Independent Director 12-Feb-15
8
9
10
11
12
13
14
15
82 Pakistan Broadcasting Corporation
Company Information PBC
Miscellaneous Media Entertainment 1973 PSC - Commercial

M/o Information, Provides broadcasting services for general reception in all parts of
Broadcasting & National Pakistan and the territorial waters thereof and onboard, ships and
Company
Heritage aircrafts and to other countries also.


Cost of Sales - - -
Finance Cost - 36 -
Tax 3 6 105%
Net Profit/ (Loss) (1,270) (206) 84%
Balance Sheet
Fixed Asset 3,124 2,976 -5%
Total Assets 3,679 3,446 -6%
Share Capital - - -
Equity (28,537) (28,226) 1%
Dividends

Executive 5 4 -20%
Total 2,574 2,437 -5%
Government Support
During the Year
7 Domestic Loans 108 69 -36%
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 5,920 6,146 4%
13 Guarantees - - -
Board of Directors
1 Ms. Zahida Parveen Executive Secretary/Chairman -
2 Ms. Samina Waqar Executive Member -
3 Mr. Aamer Manzoor Non-Executive Member -
4 Mr. Abdul Aziz Uqaili Non-Executive Member -
5 Major Gen. Asif Ghafoor Non-Executive Member -
6 Mr. Majid Khan Lodhi Non-Executive Member -
7 Mr. Muhammad Tanvir Butt Non-Executive Member -
8 Mr. Muhammad Ayub Baloch Independent Member 6-Nov-18
9 Mr. Zouhair A. Khaliq Independent Member 6-Nov-18
10 Mr. Farman Ullah Jan Independent Member 6-Nov-18
11
12
13
14
15
83 Pakistan Television Corporation Limited
Company Information PTVC
Miscellaneous Media Entertainment 1965 PSC - Commercial

M/o Information,
Broadcasting & National Television services
Company
Heritage

Cost of Sales - - -
Other Income (196) 667 440%
Tax 25 (372) 1592%
Net Profit/ (Loss) (477) 1,226 357%
Balance Sheet
Fixed Asset 9,971 9,655 -3%
Total Assets 20,620 23,029 12%
Short Term Borrowings 357 469 31%
Equity 1,333 2,939 121%
Dividends

Total 4,932 4,741 -4%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans 59 59 0%
13 Guarantees - - -
Board of Directors
1 Mr. Arshad Khan Non-Executive Chairman 14-Jun-19
2 Mr. Amer Manzoor Executive MD 14-Jun-19
3 Mr. Muhammad Tanvir Butt Non-Executive Member 10-Jan-13
4 Ms. Zahida Parveen Non-Executive Member 10-Jan-13
5 Maj Gen Asif Gafoor Non-Executive Member 10-Jan-13
6 Mrs. Samina Waqar Non-Executive Member 10-Jan-13
7 Mr. Zouhair A Khaliq Executive Director 3-Oct-18
8 Mr. Rashid Ali Khan Executive Director 3-Oct-18
9 Mr. Farman Ullah Jan Executive Director 3-Oct-18
10 Prof. Ijaz Ul Hassan Executive Director 3-Oct-18
11 Mian Yousuf Salauddin Executive Director 17-Jul-19
12 Mr. Syed Muhammad Ali Bukhari Executive Director 17-Jul-19
13
14
15
84 Overseas Employment Corporation (Private) Limited
Company Information OECL
Miscellaneous Other Services 1976 PSC - Commercial

M/o Overseas Pakistanis
To promote employment for Pakistanis in Foreign countries through
and Human Resource Private Limited Company
recruitment of manpower and to run business of travel agency
Development
Others 0% Total 81

Cost of Sales - - -
Tax 6 15 159%
Balance Sheet
Fixed Asset 5 8 50%
Accumulated Profit/(Loss) (31) 56 279%
Equity (26) 61 333%
Dividends

Executive 5 20 300%
Total 90 81 -10%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Imran Khan, Hon’ble Prime Minister Non-Executive Chairman 18-Aug-18
2 Mr. Aamir Hasan, Non-Executive Vice –Chairman 18-Sep-19
3 Ms. Sheena Ali Mansoor, Non-Executive Member 30-Oct-19
4 Mr. Kashif Ahmed Noor, Executive Member 23-Oct-18
5 Dr. Amer Sheikh, Non-Executive Member 18-May-18
6 Mr. Jamshaid Ahmed, Executive Member 2-Nov-12
7 Mr. Moazzam Ahmed Khan, Non-Executive Member 11-Sep-19
8 Mr. Kashif Ahmed Noor, Non-Executive Member 26-May-16
9 Mr. Mohsin Khalid, Independent Member 10-Apr-12
10
11
12
13
14
15
85 Pakistan Revenue Automation (Private) Limited
Company Information PRAL
Miscellaneous Other Services 1994 PSC - Commercial

Software and Information Technology Consultancy Services for
government tax and revenue agencies

Others 0% Total 968

Cost of Sales 877 -
Operating Expenses - 982 -
Other Income - - -
Finance Cost - - -
Tax 65 22 -66%
Net Profit/ (Loss) 47 (964) 2140%
Balance Sheet
Total Assets 1,066 1,280 20%
Equity 567 753 33%
Dividends

Total 955 968 1%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Syed Muhammad Shabbar Zaidi Non-Executive Director 9-May-19
2 Jawwad Uwais Agha Non-Executive Director 8-Nov-18
3 Seema Shakil Non-Executive Director 5-Dec-18
4 Mehmood Aslam Non-Executive Director 26-Dec-18
5 Syed Javed Non-Executive Director 10-Jan-13
6 Syed Ghazi Ghazan Jamal Non-Executive Director 10-Jan-13
7 Syed Naved Amjad Andrabi Non-Executive Director 10-Jan-13
8 Hanid Mukhtar Non-Executive Director -
9 Farrukh Viqaruddin Junaidy Non-Executive Director -
10 Syed Ahmed Non-Executive Director -
11 Ahmed Nawaz Executive Deemed Director under section 188(3) of Companies Act 2017 11-Jun-19
12
13
14
15
86 Small and Medium Enterprise Development Authority
Company Information SMEDA
Miscellaneous Promotion & Advocacy 2002 PSC - Commercial

M/o Industries and
Federal Authority Promotion and growth and development of SMEs
Production

Others 0% Total 128

Cost of Sales - - -
Finance Cost - - -
Tax - - -
Net Profit/ (Loss) (31) (46) -49%
Balance Sheet
Share Capital - - -
Accumulated Profit/(Loss) (76) (121) -60%
Equity (76) (121) -60%
Dividends

Total 124 128 3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Federal Minister for Indusrties & Production Non-Executive Chairman -
2 Secretary, Ministry of Indusrties & Production Non-Executive Member -
3 Secretary, Ministry of Finance or his representative not below
Non-Executive
Joint Secretary/BS-20 Member -
4 Secretary, Ministry of Commerce Non-Executive Member -
5 Chief Executive Officer SMEDA Non-Executive Member -
6 Chairman, Federal Board of Revenue Non-Executive Member -
7
8
9
10
11
12
13
14
15
87 Pakistan Tourism Development Corporation
Company Information PTDC
Miscellaneous Promotion & Advocacy 1970 PSC - Commercial

Cabinet Division Promotion and Development of Tourism Industry
Company

Others 0% Total 174

Gross Profit/(Loss) (8) (1) 85%
Tax 4 4 8%
Balance Sheet
Accumulated Profit/(Loss) (680) (708) -4%
Equity 169 141 -17%
Dividends

Executive 1 1 0%
Total 111 174 57%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Syed Zulfiqar Abbasi Bukhari Non-Executive Chairman 17-May-19
2 Secretary Cabinet Division Non-Executive Member -
3 Syed Intikjab Alam Executive CEO 17-May-19
4 Secretary Toursim Department, Punjab Executive Member 13-Mar-19
5 Secretary Toursim Department, Sindh Executive Member 13-Mar-19
6 Secretary Toursim Department, KPK Executive Member 13-Mar-19
7 Secretary Toursim Department, Baluchistan Executive Member 4-Dec-18
8 Secretary Toursim Department, AJK Executive Member 18-Apr-19
9 Secretary Toursim Department, GB Executive Member 18-Apr-19
10 DG , National Logistics Limited Executive Member 4-Dec-18
11 Mr. Kamran Lashari Independent Private Member 17-May-19
12 Mr. Aftab Ur Rehman Independent Private Member 17-May-19
13 Mr. Ali Asghar Independent Private Member 17-May-19
14 Mr. Javaid Jabbar Independent Private Member 17-May-19
15 Mr. Zulfiqar Ali Independent Private Member 17-May-19
Pakistan Railway Advisory and Consultancy Services Limited
Company Information PRACS
ITC
Unlisted Public Limited Renders services in the field of railway and runs railway reservation
M/o Railways
Company offices in Lahore, Rawalpindi, Islamabad and Karachi

Others 0% Total 384

Finance Cost - - -
Tax 12 14 21%
Balance Sheet
Trade Payables 44 -
Reserves/ Others - (100) -
Equity 702 731 4%
Dividends

Executive 1 1 0%
Total 428 384 -10%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr.Abdul Hameed Razi Executive Managing Director 21-Jun-17
2 Mr.Sikandar Sultan Raja Non-Executive Chairman 20-Dec-18
3 Mr.Aijaz Ahmad Buriro Non-Executive Director 13-Mar-18
4 Mr.Shahzad Raza Syed Non-Executive Director 23-Oct-19
5 Mr.Muhammad Tahir Non-Executive Director 21-Sep-17
6 Mr.Shahid Aziz Non-Executive Director 20-Dec-18
7 Mr.Dost Ali Laghari Non-Executive Director 23-Oct-19
8 Mr.Zubair Shafi Ghauri Non-Executive Director 21-May-18
9 M.Salman Sadiq Sheikh Non-Executive Director 23-Oct-19
10
11
12
13
14
15
Pakistan Railway Freight Transportation Company (Pvt) Ltd
Company Information PRFTC
ITC
M/o Railways Private Limited Company Freight management company

Others 0% Total 217

Cost of Sales 36 -
Other Income - 109 -
Finance Cost - 0 -
Tax 47 37 -21%
Balance Sheet
Other Current Assets - 120 -
Current Assets 1,967 752 -62%
Fixed Asset - 928 -
Total Assets 5,373 1,680 -69%
Non-Current Liabilities 4,784 662 -86%
Total Liabilities 5,292 697 -87%
Equity 81 255 215%
Total Liabilities & Equity 5,373 952 -82%
Dividends

Executive 2 2 0%
Total 270 217 -20%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Sikandar Raja Sultan Executive Chairman -
2 Aijaz Ahmed Buriro Executive Director 4-Dec-18
3 Zubair Shafi Ghauri Executive Member -
4 Farrukh Taimur Ghilzai Executive Member -
5 Salman Sadiq Sheikh Executive Member -
6 Naveed Mubash ar Ch., Executive Member -
7 Agha Waseem Ahmad Executive Member -
8 Zafar Zaman Ranjha Executive Member -
9
10
11
12
13
14
15
Railway Constructions Pakistan Limited
Company Information RAILCOP
ITC
M/o Railways Civil constructions, supply of ballast and rolling stock etc.
Company

Others 0% Total 747

Cost of Sales 1,512 1,021 -32%
Tax 97 87 -10%
Balance Sheet
Other Current Assets 1,989 958 -52%
Total Assets 3,738 3,273 -12%
Equity 2,959 2,881 -3%
Dividends

Executive 1 7 600%
Total 772 747 -3%
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1 Mr. Habib Ur Rehman Gillani Non-Executive Chairman 2-Dec-19
2 Mr. Abdul Malik Non-Executive Director -
3 Mr. Muhammad Tahir Non-Executive Director -
4
5 Mr. Aijaz Ahmed Buriro Non-Executive Director 11-Apr-19
6 Sayed Munawar Shah Executive Acting as CEO/Managing Director RAILCOP 30-Oct-19
7 Mr. Farrukh Taimur Ghilzai Non-Executive Director 10-Oct-17
8 Mr. Arshad Salam Khattak Executive CEO/Managing Director RAILCOP 24-Jan-19
9 Mr. Nisar Ahmed Memon Non-Executive Acting as CEO/Managing Director RAILCOP 20-Aug-19
10 Mr. Nasir Qadir Bhadal Independent Director 1-Jul-19
11 Mr. Muhammad Arif Hameed Independent Director 10-Jan-13
12 Mr. Muhammad Asghar Chaudhry Independent Director 10-Jan-13
13
14
15
Railway Estate Development and Marketing Company
Company Information REDAMCO
ITC
Non-railways revenue generation especially real estate
M/o Railways Private Limited Company
management and development of Pakistan Railways Land

Government of Pakistan 100% Executives
- 0% Non-Executives
Others 0% Total -

Cost of Sales - -
Gross Profit/(Loss) 86 -
Other Expenses - -
Other Income - -
Finance Cost - -
Tax 1 -
Net Profit/ (Loss) 0 -
Balance Sheet
Current Assets 300 -
Fixed Asset 12 -
Total Assets 315 -
Trade Payables 290 -
Other Current Liabilities - -
Long Term Loans 5 -
Total Liabilities 308 -
Share Capital 0 -
Equity 8 -
Total Liabilities & Equity 315 -
Dividends

Executive 6 -
Non-Executive 85 -
Total 91 -
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
0 Kashmir Railways (Pvt) Ltd
Company Information KRPL
ITC
M/o Railways Private Limited Company Construction of Rail, Roads, Infrastructure and Civil Works

Government of Pakistan 0% Executives
Pakistan Railways 100% Non-Executives
Others 0% Total -

Cost of Sales - - -
Other Expenses 2 -
Other Income 2 -
Finance Cost 0 -
Tax - -
Net Profit/ (Loss) - -
Balance Sheet
Other Current Assets - -
Fixed Asset - -
Trade Payables - -
Long Term Loans - -
Share Capital 1 -
Accumulated Profit/(Loss) - -
Equity 1 -
Dividends

Executive 1 -
Non-Executive 8 -
Total 9 -
Government Support
During the Year
14 Subsidies - - -
15 Guarantees - - -
Outstanding -
10 Loans - - -
13 Guarantees - - -
Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Federal Footprint Soes Annual Report

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Federal Footprint Soes Annual Report

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Implementation

and Economic Reforms Unit

LIST OF ABBREVIATIONS ______________________________________________________________________________ 2

Board of Directors BOD

Infrastructure Manufacturing, Industrial

Ports & Metals & Exploration & Media

Roads & Engineering Marketing & Agriculture

DFIs Refineries Promotion &

Board - Gender Classification Commercial SOEs HR Classification

Dividends Reciept to GOP

Revenue - Subsectorwise Classification

Total Assets - Sectorwise Classification

Profit and (Loss) - Sectorwise Classification

(12,968) (394) (1,746)

Profit and (Loss) - Sub sectorwise Classification

4,417 6,632 4,569 2,315 12,335 17,663 14,436 11,236 98

Top Ten Loss Making Companies (Rs. Million)

SOEs Net Pofit/(Loss) FY 2014-19

2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

List of SOEs with Major Changes in Net Profit 2018-19

The financial sector comprises Banks, NBFIs, DFIs and Insurance

Revenue - Financial Sector

Below 40 Above 40 Executive Officers Staff Contract Labor Daily Wages

Total number of Board of Directors 186

FY2017-18 FY2018-19 % Change

Lendnigs 284,117 202,738 -29%

Net Income 307,530 374,315 22%

Net Profit/Loss Margin 9% 4% -61%

Foreign loans disbursed during the year - - -

Total subsidies disbursed during the year - - -

Total Loans Outstanding 6,825 11,908 74%

Industrial Development Bank Limited 3

National Bank of Pakistan 4

First Women Bank Limited 5

National Insurance Company Limited 17

Pakistan Reinsurance Company Limited 18

Infrastructure, Transport &

Revenue - Sub Sectors Net Profit/(Loss) - Sub Sector

Railways Ports & Shipping Roads & Highways Aviation

Below 40 Above 40 Executive Officers Staff Contract Labor Daily Wages

SOEs in this category fall in five sub-sectors with serious

Port Qasim Authority 21

Roads & Highways

Manufacturing, Mining &

Manufacturing, Mining &

Revenue - Sub Sectors Net Profit/(Loss) - Sub Sector

Metals and Mining Engineering Consultancy Printing

Below 40 Above 40 Executive Officers Staff Contract Labor Daily Wages

There are 15 SOEs in category which have cumulatively

Heavy Mechanical Complex (Private) Limited 32

Peoples Steel Mills Limited 36

STEDEC Technology Commercialization Corporation of Pakistan (Private) Limited 42

Oil and Gas

Revenue Sub sectors Net Profit/(Loss) - Sub Sector

Below 40 Above 40 Executive Officers Staff Contract Labor Daily Wages

Pakistan is successfully overcoming energy crisis, which has

OIL AND GAS

Pakistan State Oil Company Limited 51

The Power sector includes Distribution, Generation,

Revenue - Sub Sectors Net Profit/(Loss) - Sub Sector

DISCOs GENCOs Transmission Management DISCOs GENCOs Transmission Management

Below 40 Above 40 Executive Officers Staff Contract Labor Daily Wages