TCP Faces Rs. 319 Billion in Liabilities, Standing Committee Urges Urgent Recovery Measures
The National Assembly Standing Committee on Commerce reviewed the financial situation of the Trading Corporation of Pakistan (TCP) during a key session held on Monday, raising concerns over the corporation’s mounting liabilities and delayed recoveries from public-sector entities.
đź“Š Financial Overview
A report presented by committee member Khurshid Junejo revealed that the TCP’s total liabilities stand at Rs. 319 billion, with the bulk—Rs. 230 billion—still recoverable from Utility Stores Corporation and National Fertilizer Marketing Limited (NFML).
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Principal Amount: Rs. 88 billion
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Interest Accumulated: Rs. 330 billion
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Expected Recoveries: Rs. 15 billion in the current fiscal year and Rs. 30 billion in the next
The staggering interest payments are placing additional strain on the national exchequer.
🚨 Recovery Challenges and Committee Recommendations
TCP officials highlighted persistent delays in payments from provincial governments, further complicating recovery efforts.
Committee Chairman Javed Hanif criticized the delays, warning that interest costs are ballooning due to bureaucratic inaction. He recommended the Ministry of Finance initiate at-source deductions from the defaulting entities to resolve the issue promptly.
“Delays in payments are directly contributing to rising liabilities. At-source deductions must be considered to protect public funds,” he stated.
📉 Related Developments
This comes at a time when Pakistan’s rice exports have dropped by 15% in FY25, reflecting broader challenges in the country’s trade and commerce sectors.
Stay tuned for further updates as the Standing Committee continues to push for reforms and financial accountability within key government corporations.
