Provincial and local level accounts will be frozen from today

KATHMANDU, July 10: The Office of the Controller General of Accounts has said that the provincial and local level accounts will be frozen starting Monday, today. According to the notification issued by the General Accounts on June 26, the provincial and local levels will not be allowed to receive any payment after 12:00 am on July 10. No new amount will be paid from provincial and local level systems for a week.

Cheques issued by showing expenses in the system till 12 am can be exchanged on Monday as well, but according to the law, new cheques cannot be issued from Monday onwards, it has been said in the notice.

Rule 30 of the Financial Procedures and Financial Responsibility Regulations 2077 stipulates that the withdrawal of payments should be stopped a week before the end of the fiscal year. However, the regulations have given the union government an exemption to spend by transferring the funds.