Kathmandu, May 4 The Financial Comptroller General Office (FCGO) has provided a grant to university students to research on the effectiveness of the government’s investment in public enterprises (PEs). Five students have been selected under the grant scheme from Department of Economics and Department of Management of Tribhuvan University to research the effectiveness of spending on PEs in their thesis for the postgraduate level. Damodar Regmi, joint financial comptroller general of FCGO, said that as per the policy of the government to expand investment in research and development, the FCGO has started partnering with academic institutions to encourage evidence-based planning of the government. The government’s cumulative investment in public corporations has crossed Rs 400 billion. However, the performance of a few public utility and service-related PEs remains poor. University students have applied to research on various topics, including management practices and performance of public enterprises in Nepal; investment and returns; among others. As per the initial findings of a research titled ‘Management practices and performance of public enterprises in Nepal’, the efficiency of PEs can be raised by 45 per cent from the current level through application of best management practices. The government had share investment worth Rs 179.08 billion and loan investment worth Rs 221.99 billion till last fiscal in the PEs. The government has major share investment in Nepal Electricity Authority, Civil Aviation Authority of Nepal, Nepal Telecom, Rastriya Banijya Bank, Agricultural Development Bank, Hydroelectricity Investment and Development Company, Udaypur Cement and Nepal Television. Likewise, the government has high loan investment in Kathmandu Valley Drinking Water Supply Board, Small Farmers’ Development Bank, Municipality Development Fund and Janakpur Cigarette Factory. FCGO has said that the government is still taking the liability of staffers even in the PEs that have already closed down.