Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government has extended the term of the National Reconstruction Authority (NRA) by one year.
A recent meeting of the Cabinet decided to extend the term of NRA, which ends on December 25, 2020, one year, as per NRA. The Cabinet extended NRA’s term as per sub-section (3) of section 3 of the Act 2015 related to the reconstruction of earthquake-affected structures.
Out of the added one year, NRA has stated that it will implement the works under the budget allocated in the current Fiscal Year 2020/2021 BS.
As per NRA, it will complete the remaining work within seven and a half months while during the remaining five and a half months it will complete the documentation work of the reconstruction activities.
During that period, the authority will update the accounts, conduct the audit and transfer the responsibilities and assets of the Authority to the bodies designated by the Government of Nepal.
Earlier, a meeting chaired by the Prime Minister and Chairman of the Board of Directors of NRA, KP Oli, had recommended to extend the tenure of NEA by one year.
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