Ministry of Finance issues Joint Investment Procedure 2020

The Ministry of Finance has issued the Joint Investment Procedure 2020 for the effective implementation of physical and economic sector infrastructure projects through coordination and cooperation between the federal, provincial and local governments. MoF spokesperson Rameshwor Dangal said that the procedure is important to ensure economic returns undertaken by the three tiers of the government adding that the procedure also aims to ensure investment in potential commercial projects and to develop the provincial and local ownership in the operations of the projects. Selection of the projects under the procedure requires minimum investment of Rs 200 million in rural municipality and municipality, and at least 500 million in sub metropolitan and metropolitan city. The minimum investment threshold set for the provincial government is Rs one billion. The Cabinet has approved projects like construction of tunnels, bridges, roads, cable cars, metro rail, internal water transport, hydropower, solar and wind energy production and distribution among others as suitable for join investment. Projects like excavation processing of mineral products, commercial management of garbage, community electrification, construction of smart cities, housing schemes, city halls and exhibition centres also fall under preferred projects. Projects are required to be submitted to the Board of Directors which will be formed by mid March 2021.