Kathmandu. The government is going to make a legal provision to operate public institutions in an integrated manner through a holding company.
Presenting the budget for the financial year 2081/82, Finance Minister Varshman Pun said that public institutions will be converted into public limited companies based on feasibility.
At present, 20 of the 44 institutes have 100% government investment, while 24 institutes have a partial share.
41 institutes are operational till last financial year. In 2079/80, while 26 institutes made profit, 15 institutes went into loss.
33 institutes were established according to the Companies Act, while 7 institutes are operating under the Special Act, 2 under the Communication Institute Act, 1 under the Cooperative Act and 1 under the Corporations Act.
He announced that sick industries that have the potential to contribute to production and employment will be put into operation in partnership with the private sector.
Pun said that the rehabilitation of sick industries in the private sector will be facilitated. It has been announced through the budget that Biratnagar Jute Mill, Hetaunda Textile Industry, Gorakhkali Rubber Industry, which are closed, will be brought into operation through public private partnership.
Likewise, the assets of public institutions will be monetized.
