The Financial Comptroller General Office (OFCG) on February 12 issued a circular to all the Treasury and Account Comptroller Offices asking them to deduct the amount of the third installment of the financial equalization grant.TAG_OPEN_div_34
“Only 81.75 per cent of the revenue has been collected till mid-January and the Ministry of Finance has written to hand over the financial equalization grant to the provinces and local levels in the same proportion,” reads the circular of the Financial Comptroller General’s Office TAG_OPEN_div_32 The request is made pursuant to the decision of this office dated February 12, 2002. ”
The Ministry of Finance had issued a 95-point directive for the implementation of the budget for the current fiscal year in August last year stating that the first and second tranches would be paid as per the initial estimate while handing over the financial equalization grant.TAG_OPEN_div_30 Similarly, the fourth installment will be handed over on the basis of the revenue target and the ratio of collection by the end of March.
According to the Ministry of Finance, the government has set a target of making Rs 1,533.44 billion in total income for the current fiscal year but the achievement till mid-January is Rs 588.51 billion i.e. 38.38 per cent of the annual target.TAG_OPEN_div_28 In this way, the grants to the state and local level have been reduced after the revenue collection was less than the target.
In the last fiscal year, the government had cut such grants, while the provinces and local governments had expressed dissatisfaction saying that the budget of the projects and programs that have already been awarded the contract and the work has been started.TAG_OPEN_div_26
Last year, the Financial Comptroller General’s Office had sent a letter to all the Treasury and Financial Comptroller Offices on February 12, 2081 asking them to release the budget of the third installment of financial equalization grant of 13.24 percent out of 25 percent i.e. 63.24 percent of the annual budget.TAG_OPEN_div_24 However, after strong opposition from the provinces and local levels, the Financial Comptroller General’s Office amended it and issued another circular on February 27, 2081 to increase the amount to be paid as the third installment of the financial equalization grant.
According to this, 21.08 percent of the 25 percent of the third installment, i.e. 71.08 percent of the total approved annual budget, should not be increased by the third installment.TAG_OPEN_div_22
Not only the third installment of the grant going to the lower level but also the last tranche was cut.TAG_OPEN_div_20 The Ministry of Finance had written a letter to the Financial Comptroller General’s Office on April 30, 2082 asking it to reduce the fourth installment of the financial equalization grant. Following the directive of the Ministry of Finance, the Office of Financial Comptroller General had decided to send only 20.68 percent of the final installment of financial equalization grant.
In the last fiscal year, the provinces and local governments had received only 91.76 per cent of the total approved annual budget till the fourth installment.TAG_OPEN_div_18
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