Probe youth self-employment fund: PAC

KATHMANDU, Dec 27: The members of the Public Accounts Committee (PAC) have demanded to investigate into the issue of fund distribution by the Youth Self-Employment Fund to different organizations saying the fund was offered by violating standards and being based on power.



A meeting of the PAC held Tuesday also directed the officials of the Fund to provide details of the financial transactions within a week carried out by the Fund so far.



The PAC has ordered the Fund to submit the details of amounts and dates taken by the banks and cooperatives, among others.



Chairman of the PAC, Ram Krishna Yadav said the Fund has allocated Rs. 270 million after the formation of the Bhattarai-led government. The amount provided by the government for youth self-employment has been deposited in 29 financial institutions.



During the meeting, members of the PAC criticized the Fund officials stating that its money was a good source for income for some banks and cooperatives.



Likewise, the meeting also decided to invite Minister for Peace and Reconstruction and Ministry´s Secretary in the next meeting of the PAC on December 29 as comments were raised over the rampant irregularities in the amount provided by the Ministry in the name of PLA combatants.

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