KATHMANDU, Nov 14: The government has allocated Rs 20.04 billion to finance the upcoming elections to the House of Representatives and provincial assemblies scheduled for November 20.

KATHMANDU, Oct 15: The Election Commission (EC) has asked the Ministry of Finance (MoF) to submit a clarification after the ministry moved forward to issue new licenses to various institutions related to insurance and stock market.

KATHMANDU, Sept 25: The Ministry of Finance (MoF) on Sunday formed a panel to study the banks and financial institutions (BFIs) raising the interest rate.

KATHMANDU, Sept 10: The government has endorsed hedging regulation in a bid to attract more foreign direct investment in the country.

KATHMANDU, Sept 8: The government has revised the tax rates on a number of goods in just two months of the announcement of the budget for 2022/23.

KATHMANDU, Sept 2: The government is in the final stages of setting up a ‘National Microfinance Fund’ with a purse of Rs 500 billion, with the aim of providing soft loans to under-privileged farmers and workers to help them start a business of their own.

KATHMANDU, August 11: The government has proposed Krishna Hari Pushkar, a controversial figure of the CCTV footage scam, as the Secretary of the Ministry of Finance (MoF).

KATHMANDU, JULY 17: The Parliamentary Inquiry Special Committee formed to investigate former Finance Minister Janardan Sharma has said that it has questioned the engineer related to CCTV of the Ministry of Finance.

KATHMANDU, July 12: The parliamentary probe committee formed earlier to investigate the involvement of unauthorized persons by former Finance Minister Janardan Sharma to manipulate tax rates in the annual budget for fiscal year 2022/23 has directed the Ministry of Finance (MoF) to provide CCTV footage and other related documents.

KATHMANDU, July 3: The Ministry of Finance (MoF) has refused to provide the CCTV footage of the ministry’s activities on the night before the date of budget announcement, stating that the system at the ministry is capable of maintaining storage of the data only till 13 days of the recording.

KATHMANDU, June 21: The government looks forward to generating hydrogen-based electricity generation plants in collaboration with the private sector at a time when the country is facing overburden expenses to import petroleum products.

KATHMANDU, June 8: The government has formed a committee aiming to boost the country’s stock market at a time when the secondary market has been going under a bearish trend for the past few months.

KATHMANDU, May 29: The government has announced a total budget of Rs 1.793 trillion for the fiscal year 2022/23, which is 8.86 percent more than the budget for the current fiscal year.

KATHMANDU, May 22: The government is likely to announce an annual budget of Rs 1.723 trillion for the next fiscal year 2022/23, an increase in expenditure by Rs 100 billion.

KATHMANDU, April 18: The government has curtailed fuel allowances being provided to civil servants by 20 percent as a part of its effort to reduce import of petroleum products amid depleting foreign currency reserves in the state treasury.

KATHMANDU, March 31: While expediting preparation of the budget for the fiscal year 2022/23, the Ministry of Finance (MoF) has operated a toll free number to collect budget related suggestions from general people.

KATHMANDU, Dec 21: The government has revised the ceiling of deposit, out of the grant amount being provided to the local governments, which the banks concerned have been using to maintain their credit-deposit (CD) ratio.

KATHMANDU, Nov 23: Finance Minister Janardan Sharma said the government is considering allowing Non-resident Nepalese (NRN) to open their USD bank accounts inside the country.

KATHMANDU, Nov 11: The government has called on the pandemic-hit poor households to apply for receiving a cash relief worth Rs 10,000 each.

KATHMANDU, Sept 14: The Insurance Board last year launched insurance against COVID-19 pandemic with much hype, but the government bodies have left insured COVID-19 patients in lurch as they fail to settle insurance claims worth more than Rs 11 billion.

KATHMANDU, September 12: Finance Minister Janardan Sharma has reiterated his claim that the country will meet the revised target of economic growth of seven percent in the current fiscal year.

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.

KATHMANDU, September 6: The stock exchange market on Monday gained a whopping 161.94 points after Finance Minister Janardan Sharma expressed his concern on the massively falling secondary market in recent days.

KATHMANDU, July 29: The Ministry of Finance (MoF) has asked the Securities Board of Nepal (Sebon) for clarification over the board’s officials’ alliance to acquire shares of a listed company.

KATHMANDU, July 8: The Ministry of Finance (MoF) has directed the Financial Comptroller General Office not to release payments to those local governments that have failed to present their annual budgets so far.

KATHMANDU, June 1: The Ministry of Finance has started homework for the implementation of the budget of the Fiscal Year 2021/22 for quick results by starting the implementation of plans and programs mentioned in the budget on time.

KATHMANDU, May 30: The government has tried to establish its rationale behind the presentation of a full budget as being constitutional and feasible for implementation, despite the budget facing widespread criticism for being a ‘populist and distributive’ one enforced by a caretaker government.

KATHMANDU, April 15: Three years ago in July 2018, the two-thirds majority government led by Prime Minister KP Oli announced that it would not make any budget transfer until the third or last trimester in order to maintain fiscal discipline.

KATHMANDU, March 17: The Ministry of Finance (MoF) on Monday asked the ministries concerned to take prudent measures while formulating the budget document to be forwarded to the MoF by March 28.

KATHMANDU, March 4: The Ministry of Finance (MoF) is providing a conditional grant of Rs 1.08 billion to 113 local governments to fund the health service centers that are under-construction.

KATHMANDU, Feb 11: The government has spent only 15.19 percent of the amount allocated for the construction of national pride projects during the first half of the current fiscal year.

KATHMANDU, Feb 10: The Ministry of Finance (MoF) has recommended Dirgha Raj Mainali, the chief of the Department of Revenue Investigation (DRI), for the position of director general of the Inland Revenue Department (IRD).

KATHMANDU, Jan 3: The Commission for Investigation of Abuse of Authority (CIAA) has filed a charge sheet against undersecretary at the Ministry of Finance Rajendra Dhungana and his wife Madhu Koirala Dhungana on Friday.

KATHMANDU, Jan 20: A secretary of the Prime Minister's Office (PMO) will head the national coordination committee on anti-money laundering activities and preventing terrorism financing if a provision in Some Nepal Acts Amendment Bill 2018 is approved as it is by the parliament.

KATHMANDU, Dec 7: The government has formed a high-level committee under Nepal Rastra Bank (NRB) Deputy Governor Shiva Raj Shrestha to look into the overall trend of monetary and capital market in recent time and recommend to the government suggestions for maintaining financial stability and addressing problems related to investment for industrial sector and capital market.

KATHMANDU, Dec 1: Minister for Finance Yuba Raj Khatiwada has said that the World Bank needs to revise the basis and methodology of its Doing Business country rankings.

KATHMANDU, Nov 20: Despite failure to boost spending of allocated budget, most of the ministries have been demanding billions of rupees in off-budget funding from the Ministry for Finance (MoF).

KATHMANDU, Sept 11: The Minister of Finance, Dr. Yubraj Khatiwada's speech while inaugurating the 2018 NADA Auto Show caught everyone off guard. Inaugurating the NADA Auto Show, a yearly exhibition of vehicles, including new ones, Khatiwada not just urged every one to reduce vehicle imports, he also had a tip to potential buyers: Don't buy vehicles by auto loans.

KATHMANDU, Feb 20: Overturning former Prime Minister’s recommendations of National Assembly members, Prime Minister KP Sharma Oli has proposed Yubaraj Khatiwada, Ramnarayan Bidari and Bimala Paudel Rai in today’s cabinet meeting, a source said.

KATHMANDU, Feb 7: The Ministry of Finance (MoF) and the Embassy of Republic of Korea have signed a Memorandum of Understanding (MoU) for a project titled “Integrated Rural Development of Nepal through Strengthening Research and Development Capacity of Kathmandu University.” The MoU was signed by Finance Secretary Shankar Prasad Adhikari and South Korean envoy to Nepal, Park Young-sik at the ministry on Tuesday.

KATHMANDU, Jan 17: A committee formed by the Ministry of Finance (MoF) to recommend measures to address the shortage of lendable funds has concluded that the government does not need to offer any relief for the bank and financial institutions (BFIs) at this moment.

MoF reimburses Rs 3.96b to NEA

July 19, 2016 01:00 am

KATHMANDU, July 19: Ministry of Finance (MoF) has reimbursed Rs 3.96 billion to Nepal Electricity Authority (NEA) to compensate for the loss that the latter incurred while distributing energy imported from India.