Gandaki’s spending progress at a dismal 47.59%

GANDAKI: The Gandaki Province Government has struggled to utilize even half of its budget for the fiscal year 2023/24. According to the Provincial Accounts Controller’s Office, Gandaki, with only two weeks remaining in the fiscal year, the provincial government has spent only 47.59% of its annual budget.

The province government had allocated a budget of Rs 35.99 billion for the current year but has managed to spend only Rs 17.08 billion thus far. However, spending has seen a significant increase in recent days. The Provincial Treasury Controller’s Office reports that up to Rs 100 million is being released on a daily basis.

As of June 27, the provincial government has utilized Rs 6.86 billion for recurrent spending and Rs 10.22 billion for capital spending. The office estimates that the 11 districts of the province could spend Rs 9 billion in the remaining days of the current fiscal year.

The Financial Comptroller General Office has already advised provincial and treasury offices to complete all budgetary payments for the current fiscal year by July 9. The computerized system used for releasing payments to provincial and local governments, including the Computerized Government Accounting Systems, Treasury Single Account, and Sub-National Treasury Regulatory Application, will go offline for a week starting July 9.