Kathmandu. The Ministry of Finance has issued a 47-point budget implementation directive to all ministries, commissions, secretariats and bodies for the effective implementation of budget for the current fiscal year.

In the guidelines issued last Monday, directives have been directed to increase the effectiveness of capital expenditure by implementing the budget and programs within the stipulated timeframe, to make efficient use of resources and to regularly monitor the progress of development projects.

As per the guidelines, all ministries and bodies have to update the approved programs and budgets in the Line Ministry Budget Information System (LMBIS) on time, prepare the procurement plan and annual action plan from the beginning and implement it, and resolve the problems seen in the implementation of the projects on time.

Directives have been issued to make the public procurement process competitive, transparent and time-bound and to make the payment of development projects on the basis of performance, to control unnecessary expenditure, to make the public procurement process competitive, transparent and time-bound and to make payments to development projects on the basis of performance.

The directive directs the bodies concerned to make revenue collection effective, strengthen internal control system, pay attention to the protection and use of public property and maintain fiscal discipline.

The Finance Ministry has also laid emphasis on making the regular monitoring, progress review and report system of projects and programs effective. According to the Ministry, the guidelines have been issued with the objective of correcting the situation seen in the implementation of the budget, weak spending capacity and inability to achieve the achievement as per the target.