Nepal adopted economic liberalization policy in 1991 and carried privatization process to bring the private sector in the main stream of national development. It had been taken as the possible measure of increasing efficiency and overall performance of public enterprises making economy more market-oriented and liberal through a mix of privatization modalities. Privatization was comparatively a new concept in Nepal. Government had hastily privatized public enterprises during 1990s. Then after the privatization process interrupted and had been lagging behind the expectations despite enormous...