The first privatisation was carried out in 1979 in UK with the privatisation of state owned oil firm, British Petroleum. In Nepal, it was only after the change in the political system in 1990 and the formation of the congress government in 1991 carried out a fresh approach to the privatisation. The government has established a privatisation committee under the Ministry of Finance. The World Bank Senior Manager and the President ASI discussed in their own way about the process and effects of privatisation in different countries, which has taken place. If work and industries can be modernised, and if inefficient bureaucrats can be replaced by bold risk-takers.
Privatisation is a political process to make it economically successful.
One should not allow considerations of sale price to dominate the whole privatisation activity. Of course price is important. Price must not be the sole consideration. It is important to choose an investor with the right technical expertise and financial resources to run the industry through but it may be expensive also. The correct policy is to treat price as one important factor and try to keep a correct balance among other factors.