117 new projects entered in project bank

Kathmandu: As many as 117 new projects have been entered in the national project bank (NPB).

The Economic Work Procedure and Financial Accountability Regulation, 2077, has mandated budget allocations to projects entered in the NPB.

The secretariat of Dr Shivaraj Adhikari, Chairperson of the National Planning Commission, shared information that the projects were entered in the NPB before unveiling the budget for the fiscal year 2082/83.

The NPC had issued the NPB (Operation and Management, 2081) Standards earlier in February. It has stipulated the compulsory entry of new projects before the end of the year, Chaitra. However, the deadline could not be met, so it was extended till May 27, two days before the launch of the budget for the coming fiscal year.

By May 27, the management information system of NPB recorded the entry of a total of 1,327 projects. Among these, 1,141 are of the cost of Rs 30 million, while 79 of the cost ranging from Rs 30 to 50 million, 44 of the cost ranging from Rs 50 to Rs 100 million, and 23 of the cost ranging from Rs 100 to Rs 1 billion, the secretariat added.

Most of the projects (19) costing over Rs 1 billion are related to Ministry of Physical Infrastructures and Transport. Similarly, the Ministry of Education, Science and Technology have such projects numbering 11.

Of the total projects, 117 (8.81 percent) are new ones, while 89 (6.70 percent) are in sequence and 1,121 (84.47 percent) under study phase.