Kathmandu, May 31: The overall financial health of public enterprises (PEs) has improved a bit in the last fiscal year 2017/18.
According to the annual status update of the PEs released by the Ministry of Finance, the operating income of PEs rose by 21.27 per cent in the last fiscal compared to previous fiscal 2016- 17. Similarly, net profit of PEs also went up by 3.31 per cent in last fiscal compared to the previous year
26 out of the 37 public enterprises (PEs) operating in the country had recorded profit in both last and previous fiscal.
The dividend the government received from PEs under non-tax revenue also increased by 27.23 per cent in 2017- 18 compared to fiscal 2016- 17, according to the report.
By accruing Rs 14.48 billion as profit, Nepal Telecom became the largest gainer amongst the 37 PEs in fiscal year 2017-18. Similarly, Civil Aviation Authority of Nepal, Rastriya Banijya Bank, Nepal Oil Corporation and Agriculture Development Bank were the second, third and fourth largest gainers with the profit of Rs 4.43 billion, Rs 3.65 billion, Rs 3.58 billion and Rs 3.44 billion respectively.
The 37 different PEs pertain to four categories namely, service oriented, industry oriented, service oriented and public utility.
