Court of Accounts report: Billion-lira loss incurred by 3 public enterprises

* Photo: BOTAŞ

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According to the General Report on Public Enterprises issued by Court of Accounts, 23 of 81 public enterprises incurred losses in 2019. The losses of the Petroleum Pipeline Corporation (BOTAŞ), state postal service PTT and Turkish State Railways (TCDD) hit billion-liras.

Moreover, the profit for the period of public enterprises, except for financial institutions, dropped from 13.8 billion lira in 2018 to 7.6 billion lira in 2019, which is covered by the Court of Accounts report.

The highest amount of profit was made by:

• Housing Development Administration of Turkey (TOKİ): 7.6 billion Turkish Lira (TRY)*
• General Directorate of State Airports Authority (DHMİ): 4.2 billion TRY
• Turkish Electricity Transmission Corporation (TEİAŞ): 2.1 billion TRY
• Turkish Petroleum Corporation (TPA): 1.2 billion TRY
• Eti Mine Works General Directorate: 2.8 billion TRY
• Directorate General of Coastal Safety: 1 billion TRY

The enterprises that incurred losses were as follows:

• Directorate General of Meat and Milk Board: 34.6 million TRY
• Turkish Hard Coal Authority (TTK): 15.1 million TRY
• BOTAŞ: 5.6 billion TRY
• General Directorate of Tea Enterprises (Çay-Kur): 635 million TRY
• State Railways: 2.5 billion TRY
• Turkish Hard Coal Authority Amasra: 99 million TRY
• Turkish Hard Coal Authority Armutçuk: 138 million TRY
• Turkish Hard Coal Authority Karadon: 381 million TRY
• Turkish Hard Coal Authority Kozlu: 262 million TRY
• Turkish Hard Coal Authority Üzülmez: 213 million TRY
• Turkish Railway Vehicles Industry (TÜDEMSAŞ): 101 million TRY
• TCDD Transportation: 1 billion TRY
• Turkish Electricity Distribution Corporation (TEDAŞ): 389 million TRY
• Sümer Holding: 30 million TRY
• Sugar Factories: 968 million TRY
• Doğusan Pipes: 2.8 million TRY
• PTT: 1.2 billion TRY
• PTT Cash Logistics: 9.8 million TRY
• Railway Systems Engineering and Consulting (RAYSİMAŞ): 5.3 million
• Sofra Corporation: 397 thousand TRY
• ASFAT: 109 thousand TRY
• Vakıf Construction: 2.2 million TRY
• Arıcak Tourism: 8.1 million TRY

Capital increase by 26 enterprises

The report of the Court of Accounts has also shared information about the enterprises that increased their capital in 2019.

While the number of enterprises that increased their capital was 25 in 2018, this number increased to 26 in 2019. The enterprises with capital increase were as follows in 2019: TTK, BOTAŞ, EÜAŞ, Çaykur, TİGEM, TCDD, TTK Amasra, TTK Armutçuk, TTK Karadon, TTK Kozlu, TTK Üzülmez, TÜVASAŞ, TÜLOMSAŞ, TÜDEMSAŞ, TCDD Transportation, TEDAŞ, Sümer Holding, Doğusan Pipes, Development Bank, İller Bank, Eximbank, Halk Insurance, Halk GYO, PTT and TÜRKSAT.

Employment increased in public enterprises

While the number of personnel employed in public enterprises was 186 thousand 785 people in 2018, this number increased to 192 thousand 852 in 2019. On the other side, the expenses made for the personnel increased from 21.7 billion TRY in 2018 to 25.7 billion TRY in 2019.

Referring to the data of the state agency Turkish Statistical Institute (TurkStat), the report has indicated that the employment was 27 million 658 thousand across Turkey in 2019 and the contribution of public enterprises to employment was 0.70 percent. (HA/SD)

* As of 12.41 p.m. today (January 26), 1 US dollar is 7.38 Turkish Lira