Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Office of the Prime Minister and Council of Ministers (OPMCM) has directed all ministries to seek prior approval for any foreign assistance.
A recent meeting of the Cabinet decided that any Ministries, prior to taking any foreign assistance, should take approval from OPMCM.
In a letter sent to the Ministry of Industry, Commerce and Supplies, it has been mentioned that this decision has been taken with the objective of streamlining the process of obtaining and mobilizing foreign aid.
Before taking foreign aid, it should be submitted to the Council of Ministers under seven headings including development partners seeking assistance, the areas where the assistance is mobilized should be opened, the type of assistance, loan / grant / material should also be disclosed, as per the letter.
Similarly, technical assistance, estimated assistance amount, etc. should be disclosed while assistance payment, whether it is cash, research payment or direct payment, method should be mentioned.
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