At least 10 pc of capital expenditure funds will be utilized every month, claims Finmin Sharma

Published On: September 12, 2021 04:19 PM NPT By: Republica  | @RepublicaNepal

Govt raises the size of capital expenditure by Rs 3.84 billion to Rs 378.10 billion

KATHMANDU, September 12: The government has claimed that it has planned to speed up capital expenditure to utilize the funds allocated for the development projects this year.

Speaking at a press meet organized by the Ministry of Finance (MoF) on Sunday, Finance Minister Janardan Sharma said the government will be spending at least 10 percent of the allocated budget every month. “Seeing the possibilities of spending the budget of the development projects, we have increased the funds under the capital expenditure this year,” Sharma said.

Through the substitution bill, the government has raised the size of the capital expenditure by Rs 3.84 billion to Rs 378.10 billion.

At a time when successive governments have been struggling every year to spend adequate amounts on development projects and almost two months have passed to implement the budget this year, the government announcement seems to be more ambitious. In 2020/21, the government utilized only 64.69 percent of the funds allocated for capital expenditure. 

Sharma said the government will expedite the work plan of development projects along with the provision of necessary manpower for the purpose. “Similarly, the government will be carrying out monitoring the construction of projects through digital platforms for the effective utilization of the capital expenses,” said Sharma.


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