Over 5,200 Projects Listed In Project Bank

Kathmandu, Mar. 18: Above 5,200 projects have been registered in the National Project Bank (NPB) so far. Different ministries have registered 5,217 projects in the NPB by Monday, according to National Planning Commission sources.
Of them, about 4,167 are ongoing projects while 1,050 are new and future ones. The deadline to register the projects with all necessary requirements by the concerned ministries is March 19. Earlier, the deadline was to expire on February 27, 2020.
Member of National Planning Commission (NPC) Sushil Bhatta said that about 5,200 projects were added to NPB, and the NPC would screen the projects that were registered with all necessary requirements.
Sector wise, about 4,100 project fall under infrastructure, 113 economic, 97 agriculture, land management and cooperatives and forest area and 136 social projects.
He said that additional number of projects would be added to the bank as the ministries were registering the projects in the bank aggressively while the deadline is approaching.
“We have to see how many projects are registered with all necessary requirements as the ministries are allowed listing the projects by maintaining all procedures and information required by the NPB,” he said.
The Financial Procedure and Fiscal Accountability Act 2076 has made it mandatory for the inclusion of projects in the project bank, prior to budget discussion and allocation.
Recognising the importance of the NPB in evidence and need-based project identification, selection and prioritisation, the approach paper of the Fifteenth Periodic Plan has outlined a strategy and working policy for the institutionalisation of the NPB.
Without proper identification, selection, preparation and implementation of projects, a development plan is no more than a wish list, he said.
At present there is paucity of well-conceived projects while on the other hand, there are plethora of projects in the pipeline including the development plans without adequate study, resulting in not only fragmentation and inefficient use of public investment but also poor delivery of projects.
This has resulted in unnecessary delay, cost overruns and slow progress of the projects.

The proper management of projects lifecycle is a prerequisite to effective project selection and implementation.
Although the ministries and other concerned authorities add the projects to the bank, the NPC would verify the project status and list them in the bank as ready projects, he said.
He said that the government would allocate budget only for the registered projects at the bank based on their status and priority as it was impossible to carry out all projects by allocating budget in the same year. He said that the government would dispose those projects whose status was poor and less important for the country’s economy.
According to him, the concept of the bank is to accelerate the development works and achieve the goals set by the 15th periodic plan by implementing the proposed project in time.
– The Rising Nepal

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