Government Revises Criteria for Multi-Year Project Contracts and Funding Approvals

Kathmandu. The government has issued new criteria, revising the process for contracting and source agreement for multi-year projects. The 'Criteria for Source Agreement Related to Multi-Year Projects, 2081' has been amended and the 'Criteria for Source Agreement of Multi-Year Projects, 2082' has been implemented.

Under the new criteria, the deadline for obtaining source agreement for multi-year projects has been moved forward. Now, the National Planning Commission (NPC), after evaluating the received project proposals and deeming them appropriate, must recommend them to the Ministry of Finance for source agreement by Mangsir 15. Previously, the NPC had until the end of Mangsir to make recommendations.

Similarly, the Ministry of Finance must now make a decision regarding source agreement by Poush 15, based on the medium-term expenditure framework, the three-year budget projection entered into the ministry-wise budget information system, the current fiscal year's budget, and the status of available resources. Previously, the Ministry of Finance was given until the end of Poush.

A special arrangement has been made for source agreement of multi-year projects for the current fiscal year 2082/83. Under this arrangement, any ministry or agency can submit a proposal for such source agreement to the NPC by the end of Poush for the current fiscal year, and the NPC can recommend it to the Ministry of Finance by Magh 15. If a recommendation for source agreement for a multi-year project is received from the Planning Commission, the Ministry of Finance can provide approval by the end of Magh for the current fiscal year.