Lower House Approves Financial Procedures Ordinance

A meeting of the House of Representatives on Sunday passed the Financial Procedures and Financial Liability (First Amendment) Ordinance, 2080 by a majority. Finance Minister Dr. Prakash Sharan Mahat tabled the ordinance.
Prior to the endorsement, the meeting rejected the proposal put forward by MP Prem Suwal to reject the ordinance. A majority of the lower house rejected the proposal of MP Suwal.
It may be noted that President Ram Chandra Paudel had issued the Financial Procedures and Financial Liability (First Amendment) Ordinance, 2080 on January 18 upon the recommendation of the government.

The ordinance has opened the door for the government to submit the principles and priorities of the budget before the parliament within the last week of February. The previous deadline for setting the budget ceiling was also amended through the ordinance.

The approval of the ordinance also allows the government to present the principles and priorities of the government’s budget three months before submission of the Appropriation Bill. Earlier, the time was at least 15 days before submission of the bill. There is a legal provision that the federal government should table the appropriation bill before the parliament on Jestha 15 (May end) according to the Nepali calendar.

Likewise, the MPs will now have thirty days to give their comments and feedback on the principles and priorities of the government’s budget and programs. Previously, the parliamentarians were required to do so within seven days after its submission to the parliament. — RSS