Kathmandu, July 10: The National
Reconstruction Authority (NRA) has prepared Reconstruction Fund Management and
Operation Procedure, 2073 to channel funds into the reconstruction works.
The reconstruction body finalized the
procedure after almost seven months of the promulgation of the Reconstruction
Act, 2015.
According to Article 15 of the
Act, there would be a fund for reconstruction where money received from the
government, Prime Minister Disaster Relief Fund, organization, association or individual
and other sources would be deposited.
Money received in form of cash or kind from
the foreign citizens, government or international agencies will also go to the
fund but the NRA should coordinate with the Ministry of Foreign Affairs before
receiving such assistance and approval from the Ministry of Finance.
The Act has also clarified that the
Fund's money would be spent only for the reconstruction related works and the
NRA should submit the annual financial report of the fund to the government.
According to the procedure,
income and expenditure of foreign cash or logistic support from the donors
should also be included in the annual financial report.
“Reconstruction Fund accounts
will also be operated by the Financial Comptroller General Office (FCGO) and
the money in those accounts will not freeze,” informed Ram Prasad Thapaliya,
spokesperson of the NRA.
The procedure has made
provisions of three different bank accounts to manage the money allocated by
the government and received from other sources.
Foreign assistance received as
grant and loan will be deposited into two different accounts in group ‘A’ while
money received from other sources will be deposited into group ‘B’ account
maintained by the FCGO at the Nepal Rastra Bank.
Group ‘A’ accounts will be in
Nepalese of Foreign currency while group ‘B’ account will be for Nepalese
currency.
As per the procedure, money
received by the reconstruction body for special and sponsored programme would
be deposited in class ‘A’ commercial banks.
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