(1) A Privatization Committee shall be formed to carry out the privatization of the establishment in an orderly manner.
(2) The following members shall be members of the committee constituted as per sub-section (1):-
(a) Finance Minister or Minister of State – Chairman
(b) Chairman, Finance Committee (House of Representatives) – Member
(c) Two Members of Parliament nominated by the Government of Nepal - Member
(d) Member, National Planning Commission – Member
(e) Secretary, Ministry of Finance – Member (f) Secretary, Ministry of Law, Justice and Parliamentary Affairs – Member

(g) Secretary, Ministry of Labour, Employment and Social Security – Member
(h) Secretary, (Ministry related to the establishment to be privatized) – Member
(i) President, Federation of Nepal Chamber of Commerce and Industry – Member
(j) Joint-Secretary, Ministry of Finance (Institution Coordination Division) - Member-Secretary

(3) The committee will invite the heads of related establishments, labor representatives and renowned economists to the meeting of the committee as needed.