Nepal, July 1 -- The government has stepped up efforts to privatise four ailing public enterprises (PEs) that have remained closed for years.

Inviting applications to hire the consultants for the property valuation for the asset management of the PEs, the Ministry of Finance (MoF) has moved forward for the privatization of the state-owned entities including Janakpur Cigarette Factory, Butwal Yarn Factory, Nepal Metal Company and Nepal Orind and Magnesite Company.

The High-Level Economic Advisory Commission formed under the leadership of former finance secretary Rameshore Khanal has also recommended scrapping out five underperforming state-owned enterprises citing them as a financial burden on the government. According to the MoF, there...