Govt to divest 8 PEs
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KATHMANDU, AUG 20 -
The Finance Ministry has decided to divest the shares of eight public enterprises (PEs) and run them under public private partnership (PPP) The privatization committee headed by Finance Minister Surendra Pandey made the decision recently to sell the shares of these PEs to the public.
Among the state owned enterprises likely to be run under PPP model are Nepal Drugs Limited (NDL), National Trading Limited, Agriculture Inputs Company Limited (AICL), Dairy Development Corporation (DDC), National Seeds Company (NSC), Herbs Production and Processing Centre Limited (HPPC), Gorkhapatra Sansthan and Hetauda Cement Factory.
“The privatisation committee also asked the concerned management of the PEs to present their proposals with appropriate modality of divesting shares,” said Tanka Mani Sharma, joint secretary at the Ministry of Finance. “We have termed this move a people-isation,” added Sharma, who is also head of the PEs’ coordination division at the ministry. According to the Finance Ministry, NDL incurred a loss of Rs 164.5 million, National Trading lost Rs 58 million and AICL lost Rs 150.1 million. Loss incurred by the DDC was Rs 23.6 million and NSC incurred a loss of Rs 6.3 million. HPPC and Hetauda Cement incurred losses of Rs 22.3 million and Rs 64.5 million respectively.
Sharma said that people’s participation could be secured on individual and institutional basis. “Milk farmers and cooperatives can be shareholders of DDC. Herbal cooperatives can become shareholders of HPPC and construction companies also can be shareholders of Hetauda Cement under this scheme,” said Sharma.
Posted on: 2010-08-20 09:42
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