Kathmandu: 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 that the effectiveness of capital expenditure be increased by 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 with the ministry budget information system, prepare a procurement plan and annual action plan at 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 the 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 the internal control system, to pay attention to the protection and use of public property and to maintain financial discipline.
The Finance Ministry emphasised making regular monitoring of projects and programmes, progress review and report system effective.
According to the Ministry, the guideline was issued to address the problem of delay in budget implementation, weak expenditure capacity and failure to achieve targets.
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