Finance Minister directs ministries to spend 30% of budget within one month

KATHMANDU: Finance Minister Janardan Sharma has issued a directive to all ministries to spend 30% of their budget within a month. Lack of capital expenditure has often contributed to the liquidity crunch the country is facing at present, he said. "Any ministry is not exempted of dilly-dallying to implement the budget. The Ministry of Finance is no exception. Thirty per cent of the budget the respective ministry has received should be spent within one month. The Finance Ministry will provide necessary help in this regard," said Minister Sharma at an inter-ministry discussion at the Ministry of Finance today. Warning that the budget will be diverted in case of failure to spend it quarterly, he was firm on ending the trend of releasing the budget towards the end of a fiscal year. He also directed prompt delivery of government services. Present on the occasion were Minister for Energy, Water Resources and Irrigation Pampha Bhusal, Minister for Physical Infrastructure and Transport Renu Kumari Yadav, Health Minister Birodh Khatiwada and Minister for Water Supply Umakanta Chaudhary. READ ALSO:

• Finance Minister Sharma appeals to entrepreneurs to produce mobile phones in country
• Accept land not connected to roads as collateral in remote areas: Finance Minister
• Finance Minister lays emphasis on simplifying laws related to development work
• Paddy loss, liquidity crunch add woes to Nepal's economy amid pandemic
• FNCCI Vice-President Dhakal urges govt to solve liquidity problem