Sunday, January 20, 2013

Government able to spend only 14.92 per cent capital expenditure

The government has been able to spend only 14.92 per cent of capital expenditure until the sixth month of the current fiscal year 2012-13.
"The government spent Rs 7.04 billion till mid-January, that is, by the end of the sixth month of the current fiscal year," said caretaker finance minister Barshaman Pun at a meeting of the National Development Problem Resolution Committee here today. The government in the last fiscal year's same period had spent Rs 9.56 billion only, though in the last fiscal year 2011-12, the earlier government had brought a full-fledged budget. Immediately after the budget, the government changed and incumbent finance minister Pun took charge of the ministry. He had failed to expedite the capital expenditure in the last fiscal year too. 
The incumbent government has earmarked a total of Rs 51.29 billion budget for capital expenditure for current fiscal year 2012-13 in its interim public expenditure arrangement, which was brought by the Pun through ordinance due to the absence of a parliament.
Ministry of Physical Planning, Works and Transport Management achieved 17.12 per cent progress in spending capital expenditure, he said. Similarly, Ministry of Forests and Soil Conservation, Ministry of Irrigation, Ministry of Industry, Ministry of Irrigation, and Ministry of Science, Technology and Environment spent 13.32 per cent, 29.07 per cent, 13 per cent, 13.03 per cent and 66.01 per cent of capital expenditure, respectively.
Only four government agencies, out of the 29 agencies, have succeeded in spending 20 per cent capital expenditure, said finance secretary Shanta Raj Subedi, adding that eight agencies have spent 15 per cent and the remaining have not succeeded in spending even 10 per cent capital expenditure.
The progress of national priority projects is also dismal, he said. Out of the 282 priority one projects, only 95 projects have achieved 80 per cent progress. Of the total, 55 projects have achieved 50 per cent to 79 per cent progress, while 47 projects have achieved progress below 50 per cent.
Data reveals that development progress has indeed been slow, said secretary Subedi, adding that the government should seriously focus on development if the current situation does not improve.

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