Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: All government accounts operated under the the Financial Comptroller General Office (FCGO), Provincial Financial Comptroller Offices, and District Treasury and Comptroller Offices will be frozen for one week starting midnight on Wednesday, as per Rule 30 of the Financial Procedure and Fiscal Accountability Regulations, 2077.
According to FCGO spokesperson Sushila Aryal, Wednesday marks the final day for budget disbursement under the current fiscal year 2081/82. Beginning tonight, systems like the Local Consolidated Fund Management System (SUTRA), Treasury Single Account System (TSA), and the Computerized Government Accounting System (CGAS/SIGAS) will be closed for a week to facilitate the fiscal year-end closure process.
“In previous years, the OFCG would issue a circular to provincial and district comptroller offices to halt expenditures in the final week of Asar. But this year, due to mandatory provisions in the Financial Procedure and Fiscal Accountability Act and regulations, no separate circular was necessary,” Aryal clarified.
She further emphasized that, “The law clearly states that government accounts must be frozen one week before the end of the fiscal year. Hence, from tonight, no payments will be processed except for essential expenditures.”
Rule 30 of the Financial Procedure and Fiscal Accountability Regulations mandates halting payment disbursements one week prior to the fiscal year-end. Disbursements can only be made for headings exempted by the Appropriation Act from being “frozen,” and even those must receive prior approval from the Financial Comptroller General’s Office.
As of Tuesday, the penultimate day for payments, the government had spent approximately 79% of the total allocated budget for FY 2081/82. According to the FCGO, the breakdown includes 84% expenditure in recurrent headings, 53% in capital expenditures, and 86% in financial management categories.
The freezing of accounts is a routine but legally enforced process aimed at maintaining fiscal discipline as the government transitions from one fiscal year to the next.
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