The Natural Resources and Environment Committee (NREC) of the National Council presented an interim Review Report on the State-Owned Enterprises (SOEs) under the Ministry of Finance (MoF) to the House, today. The Committee reported that there are 38 SOEs in the country playing a strategic role towards socio-economic development. It stated that there are 16 SOEs under the MoF (2 are under Queen's Project), and 22 under Druk Holding and Investments (DHI). The review was undertaken to understand the profile, sustainability, impacts and challenges of SOEs for effective and efficient service delivery.

The Committee specified that the SOEs under MoF are broadly categorized into five categories - Manufacturing, Trading, Services, Financial Services and Others. The Committee also presented the core mandates; corporate social responsibilities; financial performance in terms of net profit, tax and dividends and subsidies; employment status; and challenges of the SOEs.

The Committee highlighted that the SOEs contributed taxes and dividends of Nu. 245 million to the government in 2017 and Nu. 297 million in 2018, but decreased to Nu. 176 million in 2019. On the other hand, the subsidies to SOEs have seen an increasing trend during the reported period. The employment trend of the SOEs was reported decreasing during the same period.

Subsequent to the presentation, Hon’ble Members provided various suggestions on the management of SOEs including ownership; segregating SOEs with commercial and social mandates; determining the reasons for the losses incurred by some enterprises; ensuring the establishment of the SOEs is not politically motivated; reviewing and evaluating SOEs at regular intervals, amongst others.

The Committee will present the final report during the 28th Session of the National Council.

The Natural Resources and Environment Committee (NREC) of the National Council presented an interim Review Report on the State-Owned Enterprises (SOEs) under the Ministry of Finance (MoF) to the House, today.

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