The purchase agreement of the project with resource agreement should be completed by January
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In multi-year contracts with source consent, if the contract is not signed by the end of the financial year, such consent will automatically be cancelled. According to the multi-year contract approval criteria for projects prepared by the Ministry of Finance, 081, resource approval for multi-year contracts will be provided only for the part borne by the Government of Nepal in relation to subsidized projects.
It is mentioned in the criteria that the procurement process of the project for which the multi-year contract source agreement has been obtained should be started within January. But in the 080 standard, it was mentioned that the multi-year contract with source agreement should be concluded within nine months of the financial year and the procurement process should be started within October. Now it has been issued with some changes in last year's standards. In the case of projects that are in the stage of
contract evaluation, such time limit will not be applicable. 'Resource consent should only be requested for multi-year projects of high priority and strategic importance,' the criteria published in the gazette on Thursday said, 'the amount equal to the liability created for the next financial year from the resource consent of multi-year contracts should be earmarked and managed within the budget limit received by the relevant ministry or agency in the same year. .'
In the case of projects other than national pride, it is mentioned that the period of multi-year contract resource agreement provided under this standard will be three financial years at most. "When requesting resource consent for a project, the ministry or agency should allocate the necessary budget for the project with resource consent in the previous financial year based on the estimated budget limit that can be received for the next financial year," the standard states, It is mentioned in the ongoing criteria that the Ministry of Finance will provide resource consent for multi-year contracts based on the current financial year budget and resource situation of the ministry or agency submitting the
proposal. "Monitoring and evaluation of projects with multi-year contract agreement or approval will be done by the National Planning Commission and related ministries or agencies," the standard says. Mahesh Bhattarai, Joint Secretary and Spokesperson of the Ministry of Finance, said that the criteria will be issued every year and the multi-year project will be implemented accordingly. "Last year there was a situation where the standards had to be revised three times, now many things have been improved to avoid the same situation as last year," he said. He said that the standards are issued according to the Appropriation Act.
Ministries or agencies must update details of multi-year contract agreements or approvals in the National Project Bank Management Information System and Ministry Budget Information System every year.
For multi-year contracts, it is mentioned in the criteria that the responsibility of conducting the resource-agreed project belongs to the relevant ministry or agency. "In the case of projects other than projects of national pride, the Ministry of Finance can grant resource consent up to a maximum of four times the allocation amount at the beginning of the current financial year," the standard says, "If the project cannot be constructed in sections or the project remains incomplete due to lack of resources, there will be loss/damage for the nation." In the case of nature projects, the allocation limit will not be applied.''
