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Pakistan Government Considers IFRS Exemption for Energy SOEs
Politicsexpress-tribune1mo ago

Pakistan Government Considers IFRS Exemption for Energy SOEs

The Pakistani government is considering an exemption from International Financial Reporting Standards (IFRS) for energy State-Owned Enterprises (SOEs). However, the CMU opposes a five-year relief, warning of hidden fiscal risks and potential Rs500 billion losses.

Soestdijk Palace undergoes extensive renovation due to decay
Worldnos1mo ago

Soestdijk Palace undergoes extensive renovation due to decay

Soestdijk Palace in the Netherlands is undergoing significant maintenance work to restore its exterior, which has suffered from rotten window frames, peeling stucco, and leaking gutters. Construction workers have been active for several months to bring the palace back to good condition.

Ghanaian SOEs Miss Financial Statement Deadline
Politicsmyjoyonline3mo ago

Ghanaian SOEs Miss Financial Statement Deadline

Only 61 out of 185 state-owned enterprises and other specified entities in Ghana submitted their 2025 financial statements to the State Interests and Governance Authority by the April 30 statutory deadline.

Ghana's Insurance Market Sees Debate Over SIGA's Directives to State Entities
Businessmyjoyonline4mo ago

Ghana's Insurance Market Sees Debate Over SIGA's Directives to State Entities

Ghana's insurance market is experiencing a quiet structural reordering, driven by shifts in competition and coordination among key players like SIGA and SIC. This includes a public refutation of SIC MD's claim that a December 2025 SIGA letter was merely an "encouragement" for state entity insurance placements, with the letter now revealed to be a directive.

Budget 2026: Between reform and reality
FinanceDaily Maverickmail-guardian5mo ago2 sources

Budget 2026: Between reform and reality

South Africa has been given a narrow window to turn the ship around. Whether this Budget becomes a footnote or a foundation depends on what happens next — in Cabinet, in the SOEs, in municipalities and in the daily grind of governance

Politicstrinidad-express2mo ago

States of Emergency and the Illusion of Control

Discussions are ongoing regarding states of emergency and the perception of control they offer. Experts are examining whether such measures truly provide effective governance or merely create an illusion of order.

Mahama Claims Revival of State-Owned Enterprises
Businessmyjoyonline3mo ago

Mahama Claims Revival of State-Owned Enterprises

Former President Mahama has stated that his government successfully revived several collapsing State-Owned Enterprises (SOEs), including TOR, ADB, and NIB. He also urged the Trades Union Congress (TUC) to actively address the mismanagement of SOEs.

Wuhan Robotaxi Malfunction Strands Passengers and Halts Traffic
TechnologyAPBBCbloomberg+46NYTwsjFTnrkcnbcfazSCMPder-standard+38 more4mo ago49 sources

Wuhan Robotaxi Malfunction Strands Passengers and Halts Traffic

Autonomous taxis from Baidu's Apollo Go experienced a widespread system failure in Wuhan, China, causing over 100 vehicles to stop abruptly in traffic, leading to collisions and paralyzing road movement, with police rescuing stranded passengers.

NHA stays govt’s biggest fiscal drain despite higher tolls
BusinessDawn6mo ago

NHA stays govt’s biggest fiscal drain despite higher tolls

• Accumulated losses hit Rs2.07tr by June 2025; half of it piled up in just three years • Outstanding loans stand near Rs3.1tr, debt rising Rs300bn a year • Financing cost reaches Rs210bn in FY25, highest among SOEs ISLAMABAD: Carrying the largest outstanding loan portfolio on its books and a negative return on assets, the National Highway Authority (NHA) — the country’s logistics backbone — is the single largest entity bleeding the federal budget, exposing Pakistan to substantial fiscal risk despite the recent doubling of tolls. The NHA is the “largest loss-maker”, operating on a “structural deficit model and reliant on budgetary support”, the Central Monitoring Unit (CMU) of the Ministry of Finance said in its Annual Aggregate Report on state-owned enterprises (SOEs) for the year ended June 30, 2025. With accumulated losses of Rs2.074 trillion, the entity that owns and operates all the national highways and motorways accrued around Rs1.004tr in the last three years alone — about Rs295 billion each in FY24 and FY25 and Rs413bn in FY23. Moreover, it stands out at the top of the SOE list, with the largest accrued financing cost of Rs210bn in FY25, as its toll revenue remains unaligned with debt servicing, leading to fiscal dependence and sovereign guarantee exposure. “Currently, the NHA holds outstanding loans totalling approximately Rs3.1tr, with an annual debt accretion rate of Rs300bn. This debt portfolio generates Rs98bn in markup, which is expected to rise to more than Rs150bn per annum, creating a substantial credit risk for the government of Pakistan (GoP), which guarantees these loans”, the CMA said. It said the presence of sovereign guarantees for public-private partnership (PPP) contracts added further financial strain, amplifying the government’s credit risk exposure. With more than Rs115 billion in loans given by the federal government last year, it is also among the top borrowers. On the other hand, its net assets remained almost static over the last three years, actually declining slightly from Rs5.84tr in FY23 to Rs5.83tr in FY25. Its total equity has been declining over time from Rs2.57tr in FY23 to Rs2.27tr in FY24 and Rs1.95tr in FY25. Conversely, NHA’s total liabilities have been increasing, making it the single-largest entity to accrue current liabilities. Its total liabilities amounted to Rs3.27tr in FY23, increasing to Rs3.54tr in FY24 and reaching Rs3.88tr by the end of FY25. The CMU observed that National Highway Authority’s 2025 performance underscored its strategic importance yet exposed growing fiscal vulnerability. “Despite an impressive surge in toll revenues and build, own and transfer (BOT) project inflows, the authority continues to operate under a persistent deficit, driven by high depreciation and finance costs,” it said. Operating income rose sharply to Rs83.1bn in FY25 (against Rs42.4bn in FY24), propelled by the doubling of toll income to Rs64.4bn. However, the overall income of Rs119.7bn remained insufficient against total expenditures of Rs408.1bn. Consequently, the deficit before levy and taxation stood at Rs292.98bn and the deficit after tax at Rs294.86bn, reflecting continued structural stress. It noted that two critical components eroded National Highway Authority’s profitability. These include depreciation expense of Rs133.8bn, reflecting a heavily capital-intensive asset base and growing maintenance backlog and Rs193.5bn finance cost, up from Rs182bn last year, highlighting the escalating burden of debt and interest rate exposure. The CMU advised diversification of funding sources through infrastructure bonds targeted at domestic institutional investors and international development markets. It said the expansion of public-private partnerships for new road construction, maintenance outsourcing and service area development can shift part of the fiscal and operational burden to the private sector while improving efficiency and service quality. The CMU also called for renegotiating loan terms with lenders to extend maturities, reduce interest rates or convert debt into quasi-equity instruments to create immediate fiscal space. Published in Dawn, February 16th, 2026

State Capture Continues to Impact South African SOEs
Businessmail-guardian4mo ago

State Capture Continues to Impact South African SOEs

South African State-Owned Enterprises (SOEs) such as Transnet and Prasa continue to grapple with significant financial, operational, and governance challenges. These issues are attributed to the lingering effects of state capture, despite ongoing recovery efforts.