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

According to the report of Turkey’s Court of Accounts, 23 of 81 public enterprises incurred losses in 2019. The highest amount of loss was made by the Petroleum Pipeline Corporation (BOTAŞ) with 5.6 billion Turkish Lira.

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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

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