Ordinance on Economic Procedures and Financial Responsibility passed

KATHMANDU, MARCH 6:The House of Representatives (HoR) passed the Economic Procedures and Financial Responsibility (First Amendment) Ordinance, 2081 B.S.

The ordinance was approved yesterday by a majority vote following a proposal tabled by Finance Minister Bishnu Prasad Paudel. Meanwhile, a proposal by Rastriya Swatantra Party (RSP) lawmaker Dr. Swornim Wagle, seeking the HoR’s disapproval of the ordinance, was rejected.

Addressing queries raised during the discussion, Deputy Prime Minister and Finance Minister Paudel dismissed allegations that the ordinance diminishes the roles of the National Planning Commission and the Natural Resources and Fiscal Commission, calling them baseless.

He also expressed confidence that Nepal would soon be removed from the Financial Action Task Force (FATF) grey list. The government, he said, is closely monitoring developments on the issue and remains committed to meeting the required criteria within the designated timeframe. "We will ensure Nepal’s removal from the grey list before the two-year deadline," Minister Paudel assured.