Thursday, December 12, 2013

FM asks to accelerate insurance programmes, unhappy with the progress of development activities

Finance Minister Shankar Prasad Koirala has asked the ministry to accelerate the implementation of livestock insurance, crops insurance, micro-insurance and subsidy to the cold stores, according to the budget for the current fiscal year 2013-14.
Addressing the first trimester evaluation meeting at the ministry here today, he said the concerned authorities have to emphasise on budget implementation. "If there are any problems in implementation of development projects, the ministry should cooperate and help them facilitate the projects," he added.
There is no option to commercialisation of agriculture for the social reform, said central bank governor Dr Yub Raj Khatiwada, assuring the central bank's support for the agriculture insurance. "Only more investment in agriculture could ensure the social transformation. Likewise the central bank is ready to regulate micro credit."
The ministry should walk the talk and perform instead of only asking the performance reports, Koirala said, adding that the budget for this fiscal year has been announced on time and the ministry has approved the programmes on time. "There is no excuse for the delay in the current fiscal years."
Vice chair of the National Planning Commission (NPC) Rabindra Kumar Shakya, on the occasion, asked the officials to end the culture of zero performance. "If one cannot perform, one must provide explanation," he said, adding that such review meetings have become redundant as the officials have been presenting the same reason behind non-performance of the programmes and projects. "The next review meeting should reflect the real development picture," asked the senior advisor of the finance minister Dr Chiranjivi Nepal.
The development expense for the first trimester is very low, informed finance secretary Shanta Raj Subedi. "It will hurt the economic growth target for the current fiscal year," he said, adding that the project heads should be made more responsible for the delay in the progress of the development projects. "The regulatory institutions like central bank, Securities board of Nepal, Insurance Board have not been able to perform. They have to be proactive in regulation."
Comptroller General Suman Sharma asked the government to simplify the government procurement process as it is applicable to all sorts of public purchase from aircraft to vegetables. "Efficient account keeping is key for financial discipline."
The participants also raised serious question on National Priority projects and their performances.

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