Kathmandu, July 22: The Ministry of Finance has issued a 47-point guideline related to budget implementation for all ministries, commissions, secretariats and entities for effective implementation of the current fiscal year's budget.
The guideline issued on Monday directed to increase effectiveness of capital expenditure implementing the budget and programmes within the deadline, to use means and resources economically, and to regularly monitor the progress of development projects.
All the ministries and bodies should timely update the approved programmes and budget in line ministry budget information system, prepare procurement plan and annual action plan in the beginning and implement it and resolve problems seen in project implementation on time, reads the guideline.
The bodies concerned have been asked to control unnecessary expenses, to make public procurement process competitive, transparent and timely and to make payment of development projects on the basis of their performance.
The guideline has given special direction to bodies concerned to make revenue collection more effective, to strengthen internal control system, to pay attention on protection and use of public property and to maintain financial discipline.
The Finance Ministry laid emphasis to make regular monitoring of projects and programmes, progress review and report system effective.
According to the Ministry, the guideline was issued with the aim of addressing the problem of delay in budget implementation, weak expenditure capacity and failure to achieve targets.
RSP General Convention: Over 400
Goals Are Being Scored At
China Sanctions 10 US Firms
Nepal Still On ‘Grey List’,
RSP General Convention Voting Wraps
Heatwave Exposes Vulnerabilities In Europe’s