Lack of preparedness blamed for poor capital spending
19 Jul 2019
| Date: | 19 Jul 2019 |
|---|---|
| Location: | Pavilion Hall |
| Address: | Yak & Yeti Marga, Kathmandu |
| Phone: | +977-14229985 |
| Website: | https://english.khabarhub.com/ |
| Event link: | https://english.khabarhub.com/2019/19/33158/ |
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.
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