The government is actively working towards eliminating conflicts of interest and enhancing the accountability of public enterprises.

Deputy Prime Minister and Minister for Finance Professor Biman Prasad made the assurance while contributing to the debate on the review of the audit reports on public enterprises and other entities.

Professor Prasad says this is part of a broader strategy to strengthen governance and ensure that public entities operate with greater transparency.

He also addressed concerns about past practices, highlighting the issue of nepotism in appointments.

“There were senior civil servants from ministries sitting on the boards and creating all kinds of distortions. We are changing that. We are making sure that our governance, the freedom that the government is giving to enterprises, to boards, we are not interfering in these boards. And I think that gives the confidence that creates the confidence in the economy among the investors.”

Professor Prasad highlights that senior civil servants from various ministries had previously held positions on boards, leading to distortions in governance.

He further highlights that the government remains committed to exploring further reforms and potential privatization initiatives.

Professor Prasad reiterated that the government remains open to working with the private sector, ensuring that any collaborations do not distort competition within the economy.