Privatisation committee plans to divest stakes in seven major firms, including NT

19 May 2010

Myrepublica reports that the 76th assembly of Nepal’s Privatisation Committee – which last convened three years ago – is recommending that the government seek strategic partners and divest shares of seven ailing Public Enterprises (PEs), including national PTO Nepal Telecom (NT). The online journal says that the meeting also discussed measures to seek reform proposals to allow this to happen, but stopped short of giving a firm deadline on when it may actually take place. In its first meeting since September 2007 the privatisation committee said fresh initiatives are now needed to alleviate a growing burden on the state, caused by PEs which are often bedevilled with weak management, are overstaffed and which lack competitive muscle in the wake of sector liberalisation in Nepal.

Nepal, Nepal Telecom (NT)