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

Nepal Emerges as a Regional Power Exporter, Selling Up to 650 MW of Electricity Daily

Authorities Intensify Investigation into High-Value Stock Brokerage Firms

NRB Tightens Rules on Interest Capitalization for Long-Term Project Loans

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

Nepal Emerges as a Regional Power Exporter, Selling Up to 650 MW of Electricity Daily

by CEO Tab
June 26, 2026
0
Nepal Emerges as a Regional Power Exporter, Selling Up to 650 MW of Electricity Daily

Once dependent on electricity imports from India to meet its domestic demand, Nepal is rapidly transforming into an emerging energy exporter in South Asia. With the onset of...

Read more

Authorities Intensify Investigation into High-Value Stock Brokerage Firms

by CEO Tab
June 26, 2026
0
Authorities Intensify Investigation into High-Value Stock Brokerage Firms

Kathmandu, June 26: The Department of Money Laundering Investigation (DoMLI) and the Central Investigation Bureau (CIB) of Nepal Police have intensified investigations into stock brokerage firms handling average...

Read more

NRB Tightens Rules on Interest Capitalization for Long-Term Project Loans

by CEO Tab
June 26, 2026
0
NRB Tightens Rules on Interest Capitalization for Long-Term Project Loans

Nepal Rastra Bank (NRB) has introduced stricter provisions governing the capitalization of interest on loans extended to long-term projects during their moratorium period, aiming to strengthen risk management...

Read more

Delayed Monsoon Slows Paddy Plantation; Only 10 Percent of Rice Fields Planted Nationwide

by CEO Tab
June 26, 2026
0
Delayed Monsoon Slows Paddy Plantation; Only 10 Percent of Rice Fields Planted Nationwide

Delayed monsoon rainfall has significantly disrupted this year's paddy plantation across Nepal, with only around 10 percent of the country's cultivable rice fields planted as of Monday, raising...

Read more

Nepal Imports Nearly Rs 50 Billion Worth of Fertilizers, Yet Farmers Face Shortages During Planting Season

by CEO Tab
June 25, 2026
0
Nepal Imports Nearly Rs 50 Billion Worth of Fertilizers, Yet Farmers Face Shortages During Planting Season

Nepal imported chemical fertilizers worth nearly Rs 49.83 billion during the first 11 months of the current fiscal year, but thousands of farmers across the country continue to...

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.