According to the State-Owned Entities (SOEs) report for the fiscal year 2024-25, the total profits earned by Pakistan's top 15 public sector companies amounted to just Rs622 billion. The remarks made by the finance ministry reflect poorly on governance during Prime Minister Shehbaz Sharif's government. The finance ministry said the decline was driven by receivables lock-up due to circular debt and price normalisation. Profitability has eroded as high-earning SOEs are under margin pressure due to rising costs and delayed tariff adjustments, according to the Finance Ministry. Zarai Taraqiati Bank Limited earned Rs9.6 billion in profit in the last fiscal year, slightly higher than the preceding year.