Government to Liquidate Five State-Owned Enterprises Within a Year, Assets to Be Transferred to Nepal Government

The Government of Nepal has approved a plan to liquidate five fully or majority state-owned public enterprises within the next one year. The decision was endorsed by the Office of the Prime Minister and Council of Ministers on Monday.

As per the plan, the following public institutions will be dissolved:

1. Janakpur Cigarette Factory

2. Butwal Spinning Mill

3. Nepal Engineering Consultancy Services Center

4. National Construction Company Nepal

5. Nepal Orient Magnesite

The government has stated that after liquidation, the assets of these institutions will be transferred under the ownership of the Nepal Government. While the Ministry of Finance has been tasked with managing the liquidation process and asset handling, the Office of the Prime Minister will oversee and monitor the implementation.

This move is in line with the government’s ongoing policy to restructure non-functional, loss-making, or semi-defunct public enterprises and ensure better financial discipline. The next steps will involve legal and administrative procedures to carry out the liquidation process.