KATHMANDU: The government has revised the process related to contracts and funding approvals for multi-year projects, issuing new standards to streamline timelines and decision-making.
The previous “Multi-year Project Contract Approval Standards, 2081” have been amended and replaced with the “Multi-year Project Funding Approval Standards, 2082,” according to the Ministry of Finance.
Under the revised standards, the deadline for obtaining funding approval for multi-year projects has been moved forward. The National Planning Commission (NPC) must now evaluate project proposals and, if found appropriate, recommend them to the Ministry of Finance for funding approval by mid-Mangsir. Earlier, the commission was allowed to make such recommendations by the end of Mangsir.
Similarly, the Ministry of Finance is now required to decide on funding approval by mid-Poush, based on the medium-term expenditure framework, three-year budget projections entered in the ministry-wise budget information system, and the status of the current fiscal year’s budget and resources. Previously, the ministry had until the end of Poush to take such decisions.
For the current fiscal year 2025/26, a special provision has been introduced. Ministries or agencies may submit proposals for multi-year project funding approval to the National Planning Commission by the end of Poush, with the commission allowed to forward recommendations to the Ministry of Finance by mid-Magh.
Following the commission’s recommendation, the Ministry of Finance may grant funding approval for multi-year projects for the current fiscal year by the end of Magh, according to the new standards.
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