KATHMANDU, July 20: The Ministry of Finance (MoF), in a move to implement the budget, has directed the government offices to prepare their action plans by July end.
Forwarding the budget execution directive, the MoF has also asked the ministries to disburse the funds to the offices under them by mid-October. The ministries often hold discussions about projects until the very end of the fiscal year. The last hour disbursement of funds has made government offices unable to utilize the budget, besides leading to substandard development works.
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The last fiscal year ended on Wednesday, and the government was able to utilize only 47 percent of the budget allocated for infrastructure projects. So, the MoF is now mandating the ministries to release the funds to the offices under them within the first three months of the fiscal year, said the MoF officials.
Likewise, the MoF has also asked the projects that have been streamlined in the budget to make ready their purchase plans, detailed project designs and cost estimation and to call for bidding by mid-August. The government offices unable to utilize the available funds will have to go for budget surrender by the end of March.
