Nepal | May 29, 2020

11 PEs booked loss in 2016-17

Himalayan News Service
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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.


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