Govt accounts to close for one week starting today « Khabarhub
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Govt accounts to close for one week starting today

08 July 2024  

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KATHMANDU: All government accounts will be closed for one week starting Monday midnight, according to a notice from the Office of the Comptroller General (OCG).

As per Rule 30 of the Financial Procedure and Financial Accountability Regulations, 2020, accounts managed by the OCG, Provincial Account Controllers’ Offices, and District Treasury Controllers’ Offices will be shut down, informed OCG spokesperson Om Prasad Rijal.

“From Monday night, the Local Treasury Management System, Treasury Single Account (TSA), and the Computerized Government Accounting System (CGAS) will be closed for a week,” he said.

“Since this is mandated by law, the OCG did not issue a separate circular to the provincial and district offices this year. However, starting tomorrow night, no budget payments will be processed.”

Rijal emphasized that all budget disbursements for the current fiscal year 2080/81 must be completed by tomorrow.

Rule 30 of the Financial Procedure and Financial Accountability Regulations requires that budget disbursements be halted one week before the end of the fiscal year.

No payments can be made except for those specified in the Appropriation Act as non-freezable.

However, payments for essential expenditures can be made with the agreement of the OCG.

Publish Date : 08 July 2024 06:09 AM

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