The most recent development in the ongoing financial struggles of Pakistan's state-owned enterprises (SOEs) is the release of a report by the Ministry of Finance, which highlights a staggering Rs. 832.8 billion in combined losses for fiscal year 2024-25. Despite a marginal 2% improvement from the previous year, the financial burden remains severe, with significant government backing failing to stem the tide of losses. The report, as cited by ProPakistani, notes that the National Highway Authority (NHA) is the largest loss-making entity, with Rs. 295 billion in losses, while power distribution companies like Quetta Electric Supply Company and Peshawar Electric Supply Company reported losses of Rs. 112.7 billion and Rs. 92.7 billion, respectively. The power sector's debt crisis, now at Rs. 9.2 trillion, continues to deepen despite Rs. 800 billion in capital injections, as reported by Dawn.