$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '11565',
'hit' => '1001'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/20191022103019_20190419033431_20160717125003_finance-ministy.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '11565',
'hit' => '1001'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/20191022103019_20190419033431_20160717125003_finance-ministy.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '11565',
'hit' => '1001'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/20191022103019_20190419033431_20160717125003_finance-ministy.jpg'
$user = null
$groupId = null
include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '11565',
'hit' => '1001'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/20191022103019_20190419033431_20160717125003_finance-ministy.jpg'
$user = null
$groupId = null
$user_id = null
$date = '2019-10-22 00:00:00'
$dateFromDatabase = (int) 1571681700
$newDate = 'Oct 22, 2019'
$articleView = array(
'article_id' => '11565',
'hit' => '1001'
)
$word_count = (int) 493
$time_to_read = (float) 2.47
$time_to_read_min = (float) 2
$time_to_read_second = (float) 28
include - APP/View/Articles/view.ctp, line 241
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.
The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.
At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.
Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.
Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.
The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.
“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.
The draft bill also proposes giving authority to the provincial government to establish public companies.
Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.
According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.
The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.
The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '11565',
'hit' => '1001'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '11565',
'hit' => '1001'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '11565',
'hit' => '1001'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '11565',
'article_category_id' => '1',
'title' => 'Government to form Powerful Autonomous Body to Regulate all Public Companies',
'sub_title' => '',
'summary' => 'October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">October 22: The government has initiated the process to form a powerful independent authority to monitor and regulate the operations of public institutions.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Ministry of Finance has sent a draft of Public Company Operation and Management Bill to the Ministry of Law for approval.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">At present, insurance companies are regulated by the Insurance Board Nepal, Nepal Stock Exchange (NEPSE) by Securities Board and Nepal Telecom by Nepal Telecommunication Authority.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Meanwhile, other public entities like Hetauda Cement, Udayapur Cement, Nepal Airlines Corporation, Gorkhapatra Sansthan, Nepal Electricity Authority, Nepal Oil Corporation, Dairy Development Corporation, Nepal Food Corporation among others are governed by departments of concerned ministries.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Concluding that the regulation of the public entities by different bodies have been ineffective and that the organizations have not been able to progress, the Ministry of Finance has decided to form the autonomous body to oversee all the public companies, informed a high-ranking government official.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The source said that the finance ministry will present the draft bill to the Council of Ministers after being approved by the law ministry.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">“The process to form a single body to regulate all public companies has been initiated to end the anomalies of the companies and to turn them into profit-oriented institutions,” said the official requesting anonymity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill also proposes giving authority to the provincial government to establish public companies.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Experts, however, claim that this provision will once again turn public companies into recruitment centres of political parties.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the source, the proposed body has been given the authority to select the chiefs of public companies as well as to sack them.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The powerful body will also have the rights to determine scrapping public companies, privatizing them, or establishing a new entity.</span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The draft bill proposes appointment of chiefs of public companies by a team of experts while employees hired on contract basis will have to pass the tests. This, according to former secretary Bimal Wagle, will also commercialize public companies instead of politicizing them.</span></span></p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2019-10-22',
'modified' => '2019-10-22',
'keywords' => '',
'description' => '',
'sortorder' => '11316',
'image' => '20191022103019_20190419033431_20160717125003_finance-ministy.jpg',
'article_date' => '2019-10-22 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '20'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '20',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '11565',
'hit' => '1001'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
