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Wed, June 19, 2024

NPC launches public investment management action plan

B360
B360 May 9, 2024, 10:59 am
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KATHMANDU: National Planning Commission (NPC) has unveiled the Public Investment Management Action Plan (2081/82-2085/86), aimed at ensuring efficient project expenditure in accordance with the principles of government, public corporations, and public-private investment. 

The five-year action plan has been devised to improve the efficacy of government expenditure. The action plan was endorsed by the NPC's meeting on April 23, 2024.

Dibakar Luintel, Information Officer at the NPC, indicated that the plan was initiated in response to the need for a long-term strategy to expedite development projects, boost capital expenditure, and guarantee the effectiveness of public investment. 

At a juncture when a substantial portion of the infrastructure construction budget remains unutilised by all three tiers of government, the action plan seeks to tackle enduring issues in this sector. 

Owing to the delay in finalising development projects, both time and cost inflate, which ultimately impinges on the state's finances and reputation, leaving citizens bearing the brunt. 

To eliminate such distressing issues, the action plan has delineated seven goals. As per the plan, regular and transparent central monitoring will be instituted to efficiently manage the capital project portfolio, while the national project bank will be reformed in a phased manner. 

The electronic public procurement system will be upgraded to render public procurement more transparent and efficient. Public structures and infrastructures will be renovated regularly, for which a directive will be issued. The project chief is charged with responsibility.  

One of the goals of the action plan is to eliminate doubling in development projects. At present, there is no consolidated data and details on the projects and the expenditure on them by the three-tier government.  
In response to criticism that the government has been inefficient in the selection of projects and programmes in the annual budget, the action plan underscores the need for thorough preparation of projects to ensure they secure funding, while those deemed unfeasible will be abandoned.

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