Published On: October 7, 2018 08:44 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, Oct 7: The Finance Committee of the House of Representatives has directed the Finance Ministry to ensure that expenditure is more than 60 percent in the second quarter, 90 percent till mid-June and remaining 10 percent by mid-July after completing the contract process within mid-December.
Today's meeting of the Committee held under the chair of Committee’s President Krishna Prasad Dahal held discussions with representatives of Finance Ministry and Comptroller General at a time when the budget and capital expenditure were not being implemented as per the expectation.
The Committee also asked the Ministry to submit an action plan within 15 days after making the action plan to expedite the spending of capital expenditure to meet the target.
Saying that a trend of misuse of the public fund has been seen while allocating a huge chunk of non-budgetary amount without pre-plan and enough bases, Committee Secretary Surendra Aryal said that the Committee decided to direct to control the allocation of such amount.
The Committee also drew the conclusion that the integrated system and model should be prepared and brought into implementation soon to hand over the budget to the provinces and local levels.
Likewise, Revenue Secretary of the Finance Ministry Shishir Dhungana and Comptroller General Surendra Pradhan briefed the Committee about the activities of their respective bodies.
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