KATHMANDU, Jan 15: The government has decided to allow the Ministry of Finance to use the remaining balance in the government treasury to support the Federal Consolidated Fund (FCD).
According to an ordinance recommended by the cabinet to the President for authentication, the finance ministry can now transfer either the full or partial balance from other government funds into the FCD when needed to meet liabilities.
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The ordinance also stipulates that the Financial Comptroller General Office will manage the accounts for funds transferred this way. Additionally, it requires updates to the details of government funds, and provides for the cancellation of any funds that are no longer necessary for operation.
