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<span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p>
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<span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also instructed them to formulate plans and policies to make such problematic corporations reach profitable condition, the state-owned national news agency RSS reported. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Finance Madhu Kumar Marasini spoke of the need to revamp and reform problematic public corporations. Among the total 44 state-owned public corporation, 24 had amassed profits while remaining 18 were running on loss. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">According to Marasini, the government has invested over Rs 600 billion on those corporations but much to the dismay of the government and public, such corporations have not been able to generate employments to over 30,000 people. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">Such corporations have become a liability to the government instead of profit-making institutions, RSS quoted Marasini as saying. The corporations have put additional responsibilities on the government, viewed Marasini, adding that even those corporations that were privatized to earn profits were running on loss. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">He too pressed for reforms of such corporations at policy and legal level. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Division Dirgharaj Mainali, presenting the details on the status of the corporations, shared that Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunications Company Limited, Nepal Banijya Bank Limited and Agriculture Development Bank among others were in profit. </span><br />
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<span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p>
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<span style="font-family:"Arial Unicode MS","sans-serif"">According to Marasini, the government has invested over Rs 600 billion on those corporations but much to the dismay of the government and public, such corporations have not been able to generate employments to over 30,000 people. </span><br />
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<span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p>
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<span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Finance Madhu Kumar Marasini spoke of the need to revamp and reform problematic public corporations. Among the total 44 state-owned public corporation, 24 had amassed profits while remaining 18 were running on loss. </span><br />
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<span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p>
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August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss.
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'title' => 'Finance Minister for Policy-Level Intervention to Uplift State-Owned Corporations ',
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'summary' => 'August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. ',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also instructed them to formulate plans and policies to make such problematic corporations reach profitable condition, the state-owned national news agency RSS reported. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Finance Madhu Kumar Marasini spoke of the need to revamp and reform problematic public corporations. Among the total 44 state-owned public corporation, 24 had amassed profits while remaining 18 were running on loss. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">According to Marasini, the government has invested over Rs 600 billion on those corporations but much to the dismay of the government and public, such corporations have not been able to generate employments to over 30,000 people. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">Such corporations have become a liability to the government instead of profit-making institutions, RSS quoted Marasini as saying. The corporations have put additional responsibilities on the government, viewed Marasini, adding that even those corporations that were privatized to earn profits were running on loss. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">He too pressed for reforms of such corporations at policy and legal level. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Division Dirgharaj Mainali, presenting the details on the status of the corporations, shared that Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunications Company Limited, Nepal Banijya Bank Limited and Agriculture Development Bank among others were in profit. </span><br />
<span style="font-family:"Arial Unicode MS","sans-serif"">Among the 44 state-run corporations, 10 are related to industrial sector, nine related to trade, nine related to finances, five related to social sector and 10 related to service sector. </span></span></span><br />
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