Finance Ministry to monitor PEs effectively
KATHMANDU:
Finance Ministry is all set to monitor public enterprises more effectively concluding that the poor financial performance of Public Enterprises (PEs) has been hurting the national coffer.
“The Finance Ministry has been playing the role of coordinator so far,” joint secretary at the Public Enterprises Coordination Division Ram Sharan Pudasaini said, adding that respective line ministries of public enterprises were monitoring their performances. “But it is urgent to effectively monitor their performance since their losses has been mounting adding burden to government’s coffer.”
The Finance Ministry will monitor public enterprises in coordination with respective line ministry. The ministry is also thinking of holding review meeting soon to assess the performance by public enterprises, he said, adding that the ministry is serious on the poor performance of public enterprises that has been highly politicised and a bug failure of the government.
Meanwhile, the ministry today asked all the public enterprises to submit their policy and programme for the current fiscal year, immediately. The ministry will go through their policies and programmes and keep tab on whether they have been carrying out their duties as mentioned in the policy and programme or not, according to him.
Earlier, public enterprises used to submit their report once in a year. Some public enterprises have been even defying the government by not sending their progress report on time and others like Beema Sansthan and Nepal Oil Corporation have not been able to publish their audit on time.
It seems that the staff of government entities do also not have any ownership to their respective institution, Pudasaini said, adding that those entities cannot make profit unless they perform their duties in responsible manner. The latest report of public enterprises revealed that the expenses on staff have been increasing but the productivity has been decreasing. The ministry will closely follow their budget spending procedure to make their performance economical, he said.
Currently, there are 34 public enterprises in operation. Of them, 22 public enterprises were in profit and 14 public enterprises were in loss, according to the fiscal year 2009-10 report published by the Finance Ministry.
Source: THT
Finance Ministry is all set to monitor public enterprises more effectively concluding that the poor financial performance of Public Enterprises (PEs) has been hurting the national coffer.
“The Finance Ministry has been playing the role of coordinator so far,” joint secretary at the Public Enterprises Coordination Division Ram Sharan Pudasaini said, adding that respective line ministries of public enterprises were monitoring their performances. “But it is urgent to effectively monitor their performance since their losses has been mounting adding burden to government’s coffer.”
The Finance Ministry will monitor public enterprises in coordination with respective line ministry. The ministry is also thinking of holding review meeting soon to assess the performance by public enterprises, he said, adding that the ministry is serious on the poor performance of public enterprises that has been highly politicised and a bug failure of the government.
Meanwhile, the ministry today asked all the public enterprises to submit their policy and programme for the current fiscal year, immediately. The ministry will go through their policies and programmes and keep tab on whether they have been carrying out their duties as mentioned in the policy and programme or not, according to him.
Earlier, public enterprises used to submit their report once in a year. Some public enterprises have been even defying the government by not sending their progress report on time and others like Beema Sansthan and Nepal Oil Corporation have not been able to publish their audit on time.
It seems that the staff of government entities do also not have any ownership to their respective institution, Pudasaini said, adding that those entities cannot make profit unless they perform their duties in responsible manner. The latest report of public enterprises revealed that the expenses on staff have been increasing but the productivity has been decreasing. The ministry will closely follow their budget spending procedure to make their performance economical, he said.
Currently, there are 34 public enterprises in operation. Of them, 22 public enterprises were in profit and 14 public enterprises were in loss, according to the fiscal year 2009-10 report published by the Finance Ministry.
Source: THT
