Kathmandu, Aug 13: In view of negative Federal Reserve Fund, the lawmakers have placed emphasis on maintaining fiscal discipline.
Deliberations were made on the major contents of the 62nd report of the Office of the Auditor General in today’s meeting of Federalism Enablement and National Concerns Committee under the National Assembly.
Taking part in the discussion, the Upper House members underscored the need of bringing improvements in the negative status of reserve fund and keeping fiscal discipline.
On the occasion, Committee President Sonam Geljen Sherpa said that the State should work to maintain transparency by lowering financial arrears. “Measures should be explored to lessen the debt over the state treasury fund and local governments should be empowered to reduce arrears”, he noted.
Lawmakers Narayan Dutta Mishra and Kiran Babu Shrestha also echoed the need of introducing reforms in reducing public debt by maintaining financial discipline.
Also on the occasion, NA member Jag Prasad Sharma demanded an end to the corrupt tendency. Auditor General Toyam Raya highlighted the necessity of discussion on the reform aspects in the report in coming days. He shared that the status of arrears is improving at local level than at the federal level.
“Up to eight percent of arrears remain to be settled at local level whereas it is 30 percent at federal level”, he shared.
Deputy Auditor General Chandrakanta Bhandari said that the exclusive and concurrent rights of the three tiers of government should be implemented with legal clarity.
He shared that virement or transfer of funds accounted for 14.64 percent of the total budget of Rs 1751.3 billion for the fiscal year 2080/81 BS.#nepal #Lawmakers#rss
