President issues ordinance on fiscal procedures and financial accountability

President Ram Chandra Paudel has issued an ordinance to bring an amendment to the Fiscal Procedures and Financial Accountability Act, according to sources from the Office of the President.

The decision was made in accordance with Article 114 of the Constitution, where the President issued the Ordinance based on the recommendation of the Council of Ministers. The Council of Ministers convened in a meeting on Tuesday and unanimously decided to recommend the issuance of the ordinance.

The amendment to the Fiscal Procedures and Financial Accountability Act is expected to have far-reaching implications on financial governance and accountability in the country. Details of the specific amendments proposed in the ordinance are yet to be disclosed.