KATHMANDU, Sept 12: The government has introduced the Inland Revenue Mobilization Strategy, 2024, outlining a medium-term revenue mobilization plan spanning from Fiscal Year 2024/25 to 2028/29.

KATHMANDU, Sept 11: Joint Secretary at the Ministry of Finance Dirgha Raj Mainali has been appointed as the Director of the Agricultural Development Bank.

KATHMANDU, Sept 5: A taskforce formed by the government to study the problems in the microfinance institutions (MFIs) has mandated that the projects to be funded by MFIs be insured while receiving loans from these financial institutions.

KATHMANDU, Sept 2: The Ministry of Finance (MoF) has reached an agreement with the Ministry of Agriculture and Livestock Development (MoALD) to submit a proposal to the Cabinet for a loan investment of Rs 600 million in the Dairy Development Corporation (DDC) with certain conditions

KATHMANDU, Sept 2: The Ministry of Finance (MoF) has decided to form two rapid inspection teams aiming to check the revenue leakages.

KATHMANDU, July 18: The Ministry of Finance (MoF) has stepped up efforts to tighten the noose on unproductive expenditure being made on purchase of new vehicles by the government offices.

KATHMANDU, July 12: The Ministry of Finance (MoF) has allocated Rs 9.40 billion to pay the dues of construction workers for projects under the Department of Roads (DoR).

KATHMANDU, June 24: The government has decided to provide the local governments with fiscal equalization grant worth Rs 16.99 billion allocated for the fiscal year 2023/24.

KATHMANDU, June 10: The government carried out cash transfers of Rs 2.40 billion in one month during mid-April and mid-May.

KATHMANDU, June 6: In an effort to avoid the country from being greylisted by the Financial Action Task Force (FATF), the Ministry of Finance (MoF) has prepared a five-year strategy to tackle the problems related to money laundering.

KATHMANDU, June 5: Amid a shortage of resources for national development, the government has failed to secure the anticipated grants from foreign donors. In the current fiscal year 2023/24, the government had set a target of receiving Rs 49.943 billion in foreign grants but has managed to receive only 5.5 percent of that target over 10 and a half months.

KATHMANDU, June 2: The representatives of the local levels across the country have issued a seven days ultimatum to the Ministry of Finance (MoF) to rectify its decision to cut grants to the sub-national governments.

KATHMANDU, May, 27: The government received a dividend worth mere Rs 13.75 billion out of its investment of Rs 379.72 billion made in public enterprises.

KATHMANDU, May, 27: The government’s arrears increased by Rs 95.60 billion in the fiscal year 2022/23, while taking the total arrears to Rs 669 billion as of now.

KATHMANDU, May 14: Nepal Rastra Bank (NRB) has submitted 190 recommendations to the Ministry of Finance for the budget of the next fiscal year 2024/25.

KATHMANDU, May 7:The Securities Board of Nepal (SEBON) is revising the commission rates of stockbrokers effective from May 14.

KATHMANDU, May 1: The Ministry of Finance (MoF) has given a go-ahead to the Securities Board of Nepal (SEBON) to reduce the commission rates of stockbrokers.

KATHMANDU, April 28: The government has initiated the process of Sovereign Credit Rating (SCR) for the country which was stalled for three years.

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.

KATHMANDU, March 30: The Ministry of Finance has formed a budget drafting committee for the upcoming Fiscal Year (FY) 2024/25.

KATHMANDU, March 27: The Ministry of Finance has posted average performance and achievement of the set goals until the half-yearly review period of the current fiscal year 2023/24.

KATHMANDU, March 25: The Ministry of Finance is managing funds necessary for the reconstruction of school buildings that were destroyed in the Jajarkot earthquake.

KATHMANDU, Feb 21: The UK has committed $505 million in development grants to Nepal by 2030. The UK government made this commitment by signing two separate grant agreements related to business and green growth with Nepal during a special function held at the Ministry of Finance on Tuesday.

KATHMANDU, Feb 19: The government has failed to mobilize foreign loans as per the target in the first seven months of the current fiscal year.

KATHMANDU, Feb 16: As Nepal grapples with resource shortages for development projects, there's been a huge decline in international aid extended to the country by its development partners.

KATHMANDU, Feb 15: The progress of road projects listed under the national pride project has been observed to be sluggish during the first six months of the current fiscal year. There are only seven road projects designated as national pride projects, but the physical advancement of all these projects has been slow.

KATHMANDU, Feb 10: The federal government has succeeded in converting its reserve funds into a surplus of Rs 44.9 billion as of Thursday, after the government reduced its expenditure compared to revenue collection in around seven months of the current fiscal year.

KATHMANDU, Jan 30: The Ministry of Finance, which has been pointing fingers at the development ministries for poor budget expenditure, is in a miserable position with its own budget spending. The ministry has spent only 10.05 percent of the allocated budget in the first six months of the current fiscal year (FY) 2023/24.

KATHMANDU, Jan 24: The government has introduced an ordinance requiring authorities to discuss the principles and priorities of the budget (pre-budget) three months before presenting the budget in each fiscal year. On the recommendation of the government, the Fiscal Procedures and Financial Responsibility Ordinance (First Amendment) 2080 BS was issued by the President on Wednesday, January 18.

KATHMANDU, Jan 8: The Ministry of Finance has formed four committees to improve the budget system. Under the leadership of three under secretaries of the Budget and Program Division, the Ministry has formed committees to provide suggestions on the work to be done to improve the budget system.

KATHMANDU, Dec 24: The Ministry of Finance (MoF) is all set to conduct onsite inspection of the projects being developed under foreign assistance, citing the slow progress of a number of these projects.

KATHMANDU, Dec 12: Two months after the cancellation of the transmission line construction contract under the popular US aid project Millennium Challenge Corporation (MCC) project, the new contract process has not yet started.

KATHMANDU, Dec 12: The Ministry of Finance (MoF) has changed the responsibilities of six joint secretaries. According to a ministerial decision, Mahesh Acharya has been given the responsibility  to oversee the Administration Division within the MoF.

KATHMANDU, Dec 10: While the contractors have been struggling to receive payment from the government for the work they have already completed, the Ministry of Finance (MoF) has refused to pay them through cash transfer.

KATHMANDU, Dec 3: The Ministry of Finance has directed Nepal Electricity Authority (NEA) to proceed ahead with the clearance of dues related to electricity tariffs for street lamps from the respective local governments.

KATHMANDU, Nov 8: The government has enforced Multi-year Contract Work Procedure-2023 with the aim of tackling the problems seen in multiyear projects.

KATHMANDU, Nov 7: Even though the Ministry of Finance announced to have paid the arrears of the builders for the last fiscal year to the four development ministries, the builders have not received the payment as per the instructions. The Ministry of Finance issued a circular to all the four Development Ministries on October 18 and instructed them to pay the pending dues.

KATHMANDU, Nov 7: The government has formed a task force under the coordination of the Ministry of Home Affairs to study the feasibility of cannabis cultivation.

KATHMANDU, Oct 13: The government has stepped up its spending in the past few weeks, with the Ministry of Finance (MoF) releasing Rs 117 billion for payment of the government liabilities.

Kathmandu, Sept 21: The meeting of the High-level Financial Sector Coordination Committee has directed the regulators and related sectors to submit within two weeks an action plan for reforms in the financial sector.

KATHMANDU, Sept 18: In a cabinet meeting held on Friday, the government made a significant administrative decision by reassigning Secretary Krishna Hari Pushkar to the Ministry of Finance.

Sept 13: The government has decided to import 20,000 tons of sugar with a 15 percent customs discount in preparation for the upcoming major festivals.

KATHMANDU, Sept 8: The Ministry of Finance has made arrangements for commercial banks to count the money allocated to the local governments as deposits from Sunday.

KATHMANDU, July 23: In a bid to ensure effective implementation of the budget, the Ministry of Finance (MoF) has issued 81-point guidelines to all the ministries, departments and agencies of the government.

KATHMANDU, July 5: It has been found that President Ramchandra Paudel has sent a bill to the Ministry of Finance through the Ministry of Foreign Affairs (MoFA) for the payment of his medical expenses in New Delhi.

KATHMANDU, June 24: The National Natural Resources and Fiscal Commission has sent a formal request to the Ministry of Finance, urging the latter not to reduce the financial equalization grant to sub-national governments.

KATHMANDU, June 9: The Ministry of Finance on Thursday consulted donor agencies' representatives for arranging the investment amount for the Upper Arun Hydropower Project of 1,061 megawatt capacity.

KATHMANDU, June 7: The Ministry of Finance (MoF) has been dragged into controversy once again for allegedly using an “unauthorized person” to draft the budget for the fiscal year (FY) 2023/24.

KATHMANDU, May 29: In the period up to the end of February of the current Fiscal Year, about 95 percent of the population has access to electricity.

KATHMANDU, May 26: The draft of the Federal Civil Service Act, which was prepared and sent for approval by the Ministry of Federal Affairs and General Administration (MoFAGA) to the Ministry of Finance about two months ago is gathering dust at the ministry.