Kathmandu. If a new four-wheeler is to be purchased, it is mandatory to take prior approval from the Ministry of Finance.

The Ministry of Finance has issued guidelines on the implementation of the budget for the current fiscal year on Monday (yesterday) that no vehicle can be purchased without prior consent. Prior consent of the ministry is also mandatory for foreign travel. Only houses with minimum infrastructure and facilities located outside the main commercial center or main roads should be rented only if a government-owned building is not available.

According to the Ministry, the government bodies should use the vacant government buildings on priority for the operation of the offices. It is stated in the guidelines that the rented house should be used wholly for government purposes only. Maximum austerity should be spent on water, electricity, communication tariff, house rent, fuel, maintenance expenses, expenses such as office and office materials, allowances, training, seminars, service charges, travel expenses and other administrative expenses.

Financial risk mitigation measures should be adopted by assessing the financial risks that may arise in course of the implementation of projects and programs. Secretary of the Ministry of Finance, Dr. According to Dr. Ghanashyam Upadhyaya, there should be a significant improvement in capital expenditure by ensuring the effective implementation of large infrastructure and projects, development of risk assessment system and strengthening fiscal risk management.

The guidelines have made provision that public expenditure should be kept austerity. A monthly cash plan should be formulated and sent to the Ministry of Finance for the effective utilization of government funds by making the payment system easy and systematic. If the payment of more than one billion rupees is to be made to manage the cash flow, it should be compulsorily informed to the Ministry of Finance within seven days.