KATHMANDU, April 1: The Ministry of Finance (MoF) has initiated the process of drafting the budget for the upcoming fiscal year 2024/25. With the commencement of budget drafting, the MoF has urged employees to attend meetings only if absolutely necessary.

According to the MoF, some changes have been made in the format of the meeting as all the employees including the minister should focus on budget-related tasks.

Finance Minister Barshman Pun formed a budget drafting committee under the leadership of Joint Secretary Dhaniram Sharma on Friday. Joint secretaries Ritesh Kumar Shakya, Mahesh Acharya, Ram Prasad Acharya, Ishwari Aryal and Parbati Sharma are the members of the committee.

The day after the formation of the committee, on Saturday, the work of drafting the budget started with the necessary instructions from the finance minister.

Spokesperson and joint secretary of the ministry, Uttar Kumar Khatri, has asked the stakeholders involved in budget preparation to schedule meetings in advance and avoid unnecessary gatherings. “Given the extensive work hours during budget preparation, overcrowding can impede progress. While not all meetings have been suspended, stakeholders should plan meetings in advance,” Khatri said. 

Khatri further requested relevant ministries, key government agencies, private sector representatives, and donor agencies to schedule meetings beforehand. Acknowledging the importance of transparency in a democratic system, Khatri apologized for any inconvenience caused by altering meeting formats during budget preparation, citing the pressure and sensitivity of the work. He clarified that similar practices have been implemented during previous budget preparation cycles.

As per the 2015 Constitution of Nepal, the Minister for Finance is mandated to present the budget for the upcoming fiscal year to the Federal Parliament by Jestha 15 of the Nepali calendar, following Republic Day.

The government has already submitted the principles and priorities of the budget for the fiscal year 2024/25 to parliament, deviating from the usual budget preparation schedule. Former finance minister Prakash Sharan Mahat presented the principles and priorities of the appropriation bill for FY 2024/25 in both Houses of Parliament on February 26.

With Finance Minister Barshman Pun addressing queries raised by MPs, both Houses have endorsed the principles and priorities of the budget proposal.

 
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