HoR approves Financial Procedures Ordinance

KATHMANDU: The House of Representatives (HoR) today passed the Financial Procedures and Financial Liability (First Amendment) Ordinance, 2080 by a majority. 

Finance Minister Prakash Sharan Mahat tabled the Ordinance. 

Earlier, the meeting rejected the proposal put forward by MP Prem Suwal to reject the Ordinance. The proposal of MP Suwal was rejected by a majority of the lower house.

It's worth noting that President Ramchandra Paudel promulgated the Financial Procedures and Financial Liability (First Amendment) Ordinance, 2080 on January 18, following a government recommendation. The Ordinance allows the government to submit the principles and priorities of the budget to parliament within the last week of February, amending the previous deadline for setting the budget ceiling.

The Ordinance's approval also permits the government to present the principles and priorities of its budget three months before the submission of the Appropriation Bill. Previously, this was required at least 15 days before the Bill's submission. There is a legal provision that the federal government should present the appropriation bill to parliament on Jestha 15 in the Lunar Calendar.

Furthermore, MPs now have thirty days to provide their comments and feedback on the principles and priorities of the government's budget and programmes. Previously, parliamentarians were required to do this within seven days of its submission to parliament.

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