Lack of preparedness blamed for poor capital spending « Khabarhub
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Lack of preparedness blamed for poor capital spending

19 July 2019  

Time taken to read : 3 Minute

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KATHMANDU: A government study has pointed out lack of preparedness as the main reason for poor spending capacity of development projects.

A study carried out by National Natural Resources and Fiscal Commission (NNRFC) stated that development projects are failing to spend allocated budget owing to lack of preparedness while allocating budget and a lack of project bank among other reasons.

At a program organized by Pavilion Media Group, Institute for Strategic and Socio-Economic Research (ISSR) and Khabarhub at the Durbarmarg-based Pavilion Hall on Friday, NNRFC Secretary pointed out the transfer of employees, lack of project bank, allocating budget without proper planning and political interference as the reasons for not spending of the allocated budget.

“If the data of the last seven fiscal years is examined, it can be found that 40.4 percent of the capital expenditure is spent on the last month of the fiscal year,” he said.

Similarly, economist Satyendra Timilsina said that outcome should be observed than the allocation of budget. Saying that some 12 percent of total Gross Domestic Product is allocated for capital expenditure, Timilsina suggested that the facilities to government employees should be increased even by lowering their number.

Likewise, Secretary of Finance Committee Surendra Aryal said that the committee had directed not to spend more than 10 percent of the budget in the last month of the fiscal year.

“Despite time to time direction it has not been implemented”, he said.

Also speaking Professor Baburam Karki said that capital expenditure can be increased if the bureaucracy is motivated.

Likewise, parliamentarian Tulasa Thapa said that the country’s economic condition was feeble.

At the function, economist Dr. Dadhi Adhikari thanked all for the presence adding that such interactions will be helpful for the improvement of the financial sector.

Also speaking, Chairman of Pavilion Media Group and ISSR Executive Director Naresh Shrestha discussed the role of the private sector and the outlook of the governmental sector on the private sector.

Publish Date : 19 July 2019 20:37 PM

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