At this point you’d be looking at a house of cards in a dark room. It’s impossible to fairly evaluate an SOE in the case the SOE both has a pseudo monopoly and

At this point you’d be looking at a house of cards in a dark room. It’s impossible to fairly evaluate an SOE in the case the SOE both has a pseudo monopoly and the government controls the currency. The only bound on these SOEs raising prices would be civil unrest, so the question is whether the government is keeping prices low because of policy or because they cannot politically raise prices. The government can also choose to devalue the currency to reduce outstanding liabilities.