Kathmandu, Aug 4
Finance
Minister Janardan Sharma has directed the Financial Sector Management and
Corporation Coordination Division to start preparations for the policy and
legal reforms to transform the government-run corporations into profit making
companies.
Following a
briefing from the Division on Wednesday afternoon, he directed to formulate policies and programmes to uplift the
loss-making public enterprises.
"What kind of policy can be made to make public
enterprises profitable?" What problems need to be solved? Make a detailed
list of them immediately,” he asked the Division.
Speaking on the occasion, Finance Secretary Madhu
Kumar Marasini said that the condition of most of the public enterprises was
not good.
According to him, public enterprises with an
investment of Rs. 600 billion by the government has not been able to create
even 30,000 jobs and instead of making profit, they have added liabilities to
the government.
Marasini said that some of the corporations which were
privatised to convert them into profit-making institutions are also in loss.
Dirgharaj Mainali, Chief of the Division, said that government-run
corporations like Nepal Oil Corporation, Nepal Electricity Authority, Nepal
Telecommunication Company Limited, Rastriya Banijya Bank and Agricultural
Development Bank were making profits.
There are 44 government-owned public enterprises: 10
in industrial sector, five in public sector, five in commercial sector, nine in
financial sector, five in social sector and 10 in service sector.
Of these, 24 are running profitably while 18 are in loss.
Published in The Rising Nepal daily on 5 August 2021.
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