KATHMANDU, Jan 23: The government has disbursed a budget of more than Rs 19 billion for the upcoming House of Representatives (HoR) election scheduled for March 5.
Officials at the Ministry of Finance (MoF) confirmed that the ministry has managed Rs 19.21 billion for the poll. Tanka Prasad Pandey, spokesperson for the MoF, said the largest amount has been provided to the Ministry of Home Affairs for security expenses.
As of now, the MoF has released Rs 10.39 billion for security expenses which is 54 percent more than the amount provided to the Election Commission (EC). The EC has received Rs 6.73 billion, while the Ministry of Defence has been provided with Rs 1.99 billion.
Diversifying Government Revenue
Pandey said the ministry has released funds as demanded by the concerned authorities. “The government is committed not to make any shortfall of the funds required to hold the election.”
The government has adopted measures to manage necessary expenses for the upcoming election from internal sources. After assuming office, Finance Minister Rameshore Khanal had declared that the government would not rely on donor funds to hold the elections.
Meanwhile, the March 5 election is expected to mobilize cash flow of around Rs 180 billion in Nepal’s economy. At a time when prospective investors are in a ‘wait and watch’ mode amid sluggish capital expenditure of the government, the increase in cash flow is expected to increase the economy’s aggregate demand by a notable amount.
Economist Chandra Mani Adhikari said there will be cumulative impacts of the election-based expenses of the government and the candidates on the economy. “However, the government will have to face more burden of public debt in the aftermath of the election,” he added.
The EC has fixed expenditure ceilings for candidates contesting the March 5 HoR election, ranging from Rs 2.7 million to Rs 3.3 million based on the constituencies.
Candidates contesting from remote and geographically challenging districts like Taplejung, Panchthar, Sankhuwasabha, Solukhumbu, Khotang, Dolakha and Ramechhap, among others, are permitted to spend up to the maximum limit of Rs 3.3 million.
In more accessible areas, the ceiling has been fixed at Rs 2.7 million per candidate. The EC has made it mandatory to release election expenses through accounts maintained at banks and financial institutions.
