Apr 15, Kathmandu- The Chief Minister of Bagmati Province Government, Shalikram Jamkattel, has said that while preparing the budget for the next fiscal year, the budget will be allocated by selecting the projects in the project bank.

Today, Chief Minister Jamkattel made it clear that the budget for the next financial year will not be based on the traditional system. He said that although the state government had prepared to allocate the budget through the project bank from the current financial year, it was not possible due to various circumstances.

He said that the project with internal preparation and management will be made public through the Bank Management Information System, and the budget will be proposed based on priority within the ceiling obtained during the formulation of the budget. According to him, the big plans will be entered into the project bank's information system after a detailed study of the pride projects of the province, and the budget will be allocated based on the order of priority.

The provincial government has intensified preparations for program selection and budget allocation by creating a 'project bank' from the next financial year. Since the establishment of the provincial government, the debate on the construction of the project bank has been going on, but it has not been implemented.

The dispute between the parties over the budget of the current fiscal year 2080-081 of the provincial government further confirmed the justification of the project bank. Regarding the implementation of the budget of the current financial year of the state government, the Commission for Investigation of Abuse of Authority had also suggested creating a 'Project Bank' and allocating the budget to plans and programs.

Similarly, the review of the first periodic plan of the province has also shown the inevitability of the project bank. The review mentions the suggestion that the project bank should be put into operation through the Provincial Policy and Planning Commission.

It has been pointed out that there is a need to make the scheme selection system systematic, transparent and balanced by implementing the provincial project bank management information system handed over from the National Information Commission.

Since the establishment of the provincial government, the Bagmati government had started discussing the construction of a project bank. In the past, the government has been promoting the issue of project bank construction by including it in the policies and programs. However, the implementation could not be done.

The state government had built the project bank twice in 2075 and 2079. The project bank has been created to organize the investment of the government and to analyze the advantages and disadvantages of the investment and production of the real sector.