CEO Tab
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment
No Result
View All Result
CEO Tab
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment
No Result
View All Result
CEO Tab
No Result
View All Result
Home Prime News

Govt issues guideline for budget implementation

CEO Tab by CEO Tab
July 21, 2023
in Prime News
0
Finance_Ministry

Government to issue economic white paper today

74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

The Ministry of Finance has issued an 81-point guideline to all the ministries, departments and line agencies for the effective implementation of the budget for the fiscal year 2080/081 BS.     

You might also like

Government Suspends New Registration of Public Transport Vehicles Nationwide

Government Prioritizing Austerity Measures to Reduce Recurrent Expenditure

Over 74,000 Nepalis Obtained Foreign Employment Permits in Baisakh

The guideline focuses on maximum utilization of resources, becoming economical on expenses and ensuring effectiveness and efficiency to implement budget. Likewise, the Ministry has directed to maintain fiscal discipline.     

The guideline has ordered the officials and stakeholders to complete the preparatory jobs for implementation of the annual plans and programmes.     

Furthermore, the Ministry has asked the government institutions to formulate new procedures, directives and standards within a month if they were to seek approval from the Ministry. Such approved procedures should be updated in the agencies’ website within a week.     

The government institutions should call the tenders within the first three months of the fiscal year by preparing the annual procurement plan, detailed design and cost estimation.     

The contract agreement should be done by mid-November and commence the job within 15 days of the contract agreement, the Ministry stated.     

Likewise, the agreement would be automatically scrapped if the contract agreement was not carried out within nine months after the assurance for resources. This move shall come into operation to the projects of the last fiscal year as well.     

As the budget implementation guidelines state, the source agreement will be scraped for those projects which have not yet gone into bidding despite the completion of nine months of the agreement and have not been proposed for appropriations in the current fiscal year budget.     

Likewise, the implementation of Parliamentary Constituency Infrastructure Development Programme and the Production and Employment Generation Programme are to take place by the thematic committees and implementation provisions are recommended accordingly.     

Through the guidelines, the Ministry directs for the implementation of ‘reward’ and ‘punishment’ culture in the construction business. Construction companies are mandated to take permission in writing from the respective project chief if they need to seek services from the entire and specific works via an auxiliary contract.     

The guidelines insist on the development of culture holding project chief and construction companies responsible for timely and quality delivery.     

Auxiliary contract has been discouraged in most essential case.     

Likewise, projects worth over Rs 100 million have been recommended for undergoing construction quality test by the National Vigilance Centre.     

The implementation has not been recommended in case of those programmes and projects not endorsed by the budget.     

Likewise, introduction of any programme in the mid of the budget has not be recommended. The payments have been suggested only on the basis of physical progress and quality of the projects.     

For the second quarterly budget release, there should be 30 percent work progress, while for third quarterly release, there must be at least 50 percent physical progress.     

Environment impact assessment and preliminary environment test should be carried out within the fixed timeframe for facilitating the project implementation.     

The multi-year contracted projects should be implemented from the allocated budget itself.     

Organization and management survey should be carried out before mid-December so that the existing organization of public administration would be made smooth.     

The Finance Ministry has asked budget implementers to maintain utmost frugality in administrative expenses including allowance, training, seminar, service fee, visit, stationery, maintenance, fuel, electricity tariff, rent etc. 

Share30Tweet19
CEO Tab

CEO Tab

Recommended For You

Government Suspends New Registration of Public Transport Vehicles Nationwide

by CEO Tab
May 22, 2026
0
DoTM

The Department of Transport Management has suspended the new registration of all public transport vehicles across the country. According to the department, the decision was taken in view...

Read more

Government Prioritizing Austerity Measures to Reduce Recurrent Expenditure

by CEO Tab
May 22, 2026
0
Finance_Ministry

The Ministry of Finance (MoF) has stated that the government is focusing on implementing austerity measures aimed at reducing the size of recurrent expenditure. Speaking at a meeting...

Read more

Over 74,000 Nepalis Obtained Foreign Employment Permits in Baisakh

by CEO Tab
May 22, 2026
0
Ten thousand foreign workers in Nepal, highest from China

The trend of Nepalis seeking employment abroad continued strongly in Baisakh (mid-April to mid-May), with 74,429 individuals receiving labour permits during the month, according to the Department of...

Read more

Nepal Has Over 144,000 Metric Tons of Chemical Fertilizers in Stock, Ministry Says

by CEO Tab
May 22, 2026
0
40,000 metric tonnes of fertilizer procured from China yet to arrive

The Ministry of Agriculture, Forest and Environment has announced that Nepal currently has 144,803.25 metric tons of chemical fertilizers in stock. Chief of the Agricultural Development Division and...

Read more

Buddha Air Suspends Nepalgunj–Pokhara Direct Flights Temporarily

by CEO Tab
May 20, 2026
0
Buddha Air holds 67 percent market

Buddha Air has temporarily suspended its direct flights between Nepalgunj and Pokhara, a service that had been operating for nearly five years. According to Buddha Air’s Nepalgunj Station...

Read more
Next Post
Sebon mulls over licensing a new stock exchange company

SEBON grants broker license to 11 more companies

Browse by Category

  • Corporate
  • Entertainment
  • Featured
  • International
  • Major Story
  • Next Gen
  • Opinion
  • Prime News
  • Special Report
  • Tete – A – Tete

EDITOR

Manish Raj Poudel
info@ceotab.com
9841317747


PUBLISHED BY

Welcome Group
www.welcomeadnepal.com

Publisher

www.ceotab.com is a premium news portal being run by Welcome Group. The website features quality business/economic news contents,  in-depth profiles of companies, stories of struggle and success of entrepreneurs, articles that assess various dimensions of  the commerce, trade and economy.

Editor

Manish Raj Poudel

info@ceotab.com

9841317747

Sub-Editor

Riza Poudel

poudelriza@gmail.com

Archives

© 2023 CEO Tab. All rights reserved.

No Result
View All Result
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment

© 2023 CEO Tab. All rights reserved.