The financial collapse of the Shalimar Recording and Broadcasting Company has laid bare billions of rupees in unpaid liabilities, years of salary arrears, and the dismissal of hundreds of employees, prompting serious concern in Parliament over the handling of state owned media entities.
Officials informed the Standing Committee on Information and Broadcasting that Shalimar Recording & Broadcasting Company is facing total pending liabilities of Rs 2.31 billion. These include unpaid salaries, pensions, Employees Old Age Benefits Institution contributions, Contributory Provident Fund payments, PakSat related dues, and other statutory obligations.
It was disclosed that EOBI contributions have not been deposited for four to five years, compounding legal and financial risks. The committee was told that SRBC previously employed around 280 staff members, but following court proceedings linked to liquidation, all employees were laid off, with only about 50 workers retained to manage minimal satellite operations.
Salary arrears span multiple years, covering 2022, 2023, and 2024, leaving former employees without income or financial security. SRBC officials confirmed that the company is undergoing liquidation under court supervision, with the legal framework allowing a maximum liquidation period of three years.
A key court hearing remains pending, while management said any revival plan depends entirely on the availability of funds to clear liabilities. Officials indicated that if financial support is secured, the company may issue an expression of interest to lease airtime, as was done in the past.
Lawmakers expressed concern over the broader institutional impact of SRBC’s collapse, noting that the company’s failure to meet its financial obligations has had knock on effects on other public bodies. Members recalled instances where SRBC locked the offices of the Press Council of Pakistan due to unpaid rent, leaving staff locked out and forcing legal action to prevent eviction.
The committee warned that SRBC’s situation reflects deep rooted governance failures, poor financial planning, and the absence of sustainable business models within state owned media organisations. Members stressed that liquidation must not become a mechanism to evade responsibility toward employees whose salaries, pensions, and statutory benefits remain unpaid.
Concluding the discussion, lawmakers called for full disclosure of liabilities, a clear roadmap for liquidation or revival, and accountability for decisions that led to the accumulation of Rs 2.31 billion in debt, emphasizing that employees and public institutions should not bear the cost of prolonged mismanagement.
