11 PEs booked loss in 2016-17

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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.

The post 11 PEs booked loss in 2016-17 appeared first on The Himalayan Times.

Written by Sandeep
This news first appeared on https://thehimalayantimes.com/business/11-public-enterprises-booked-loss-in-2016-17/ under the title “11 PEs booked loss in 2016-17”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.