Cabinet approves payments for completed projects in previous fiscal year

Kathmandu, February 25 — The Cabinet has granted approval for the Ministry of Finance to make payments for projects and programs that were completed in the previous fiscal year, 2024/25.

The decision was announced by Government Spokesperson, Prithvi Subba Gurung, following a Cabinet meeting held at Baluwatar.

The meeting also discussed the arrangement for clearing liabilities for these projects.

In addition, the Cabinet decided to form a negotiation team to finalize the documentation for a concessional loan of 150 million USD from the World Bank Group’s International Development Association (IDA) for the repair of bridges.

The loan agreement is expected to help restore key bridges in the country.

The Cabinet also approved the appointment of Sharad Ojha as the new Chairman of the Nepal Insurance Authority.

Furthermore, the Cabinet announced that families of people missing due to monsoon-related disasters since the 1st of Baisakh 2080 (April 14, 2023) will receive relief as if the missing persons were confirmed dead after 10 days of being unaccounted for.

In military-related decisions, the Cabinet promoted one officer to the position of Brigadier General and one to Colonel. 

Additionally, the terms of service for one Colonel, two Brigadier Generals, and one Major General have been extended.

Finally, the Cabinet approved sending the Minister for Drinking Water, Energy and Irrigation to India from the 18th to 22nd of Falgun (March 2 to March 6) to sign a memorandum of understanding on water supply and sanitation development.

These key decisions from the Cabinet aim to address pressing issues related to infrastructure, public welfare, and diplomatic relations.