Nepal | May 29, 2020

11 PEs booked loss in 2016-17

Himalayan News Service
Share Now:

Kathmandu, May 27

Only 26 out of the 37 public enterprises (PEs) operating in the country had booked profit in last fiscal 2016-17.

The Annual Status Update of the PEs of 2016-17 unveiled by the government today showed that the overall financial status of PEs operating in Nepal slightly improved compared to the previous fiscal year.

In fiscal 2015-16, 23 PEs had booked profit.

As per the report, the operating income of PEs increased by 33.9 per cent compared to fiscal 2015-16. Similarly, net profit of PEs also increased by 18.5 per cent in fiscal 2016-17 compared to the previous year.

However, the dividend that the government received from PEs under non-tax revenue came down by 0.4 per cent in 2016-17 compared to fiscal 2015-16, according to the report.

Meanwhile, statistics show that the dues owed by different PEs operating at a loss to the government and financial institutions surged by 6.8 per cent in fiscal 2016-17 to Rs 170 billion compared to 2015-16.

The 37 different PEs, which are in operation, are broadly categorised into four categories namely, service oriented, industry oriented, service oriented and public utility PEs.

A version of this article appears in print on May 28, 2018 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Cases registered against two lockdown violators in Udayapur

GAIGHAT: Police have registered cases against two youths who were arrested on Tuesday for violating lockdown in Udayapur district. The arrested have been identified as Surendra Gupta and Rakesh Sah, both in their 30s. Lalpatta-based police post arrested the duo after they were found bringing t Read More...

Police recover two muzzle-loader guns in Kohalpur

NEPALGUNJ: Armed Police Force personnel recovered two abandoned muzzle-loader guns in Kohalpur Municipality-8 in Banke district, today. Deputy Superintendent of Police (DSP) Shyam Kumar Karki said that they recovered the weapons along with ammunition, shrapnel shells, and other items under Sikta Read More...

Chaurjahari Incident: Body of fifth youth found on Thursday; one still missing

JAJARKOT: The body of the fifth victim of Chaurjahari incident, where Dalit youth Nawaraj BK and his friends were attacked by the villagers in Soti of Rukum West on Saturday, was found today in the banks of Bheri River. With the recovery of Sandeep BK's body from Kalabhir of Chinchu-Jajarkot road Read More...

Rautahat locals clash with police in quarantine dispute; police open dozen blank fires

RAUTAHAT: Tensions ran high at Katahariya Municipality in Rautahat district after police opened a dozen rounds of blank fire to take situation under control as the locals protested against setting up a quarantine in the area and clashed with security forces, on Thursday. At least six police perso Read More...

Finance Minister presents budget of Rs 1,474.64 billion for FY 2020-21

KATHMANDU: Finance Minister Yubaraj Khatiwada presented a budget of Rs 1,474.64 billion for the Fiscal Year 2020/2021 in the joint session of the House of Representatives and National Assembly here today, with a major focus on reviving the economy following the effects of COVID-19 pandemic. The g Read More...

India Coronavirus

Virus cases jump again in South Korea, India

SEOUL: South Korea on Thursday reported its biggest jump in coronavirus cases in more than 50 days, a resurgence that health officials warn is getting harder to track and risks erasing some of the nation’s hard-won gains. The Korea Centers for Disease Control and Prevention said 67 of the 79 ne Read More...

Nepal Electricity Authority

1300 MW electricity to be added to the national grid

KATHMANDU: The government is all set to add 1,300-MW electricity to the national power grid of the country within the next fiscal year. A goal has been set to complete all the ongoing hydropower projects and expedite the under-construction projects in the country. The government is planning to Read More...