Government Makes E-Payments ‘Mandatory’ to Ensure Fiscal Good Governance

The government has made electronic payment systems mandatory for all financial transactions as part of its efforts to strengthen fiscal discipline and promote good financial governance, the state-run national news agency RSS reported.

According to RSS, Finance Minister Rameshore Prasad Khanal made the announcement at a policy dialogue on “Financial Reform and Budget Priorities for Reconstruction and Economic Revival” organised by the Former Planners Forum Nepal (FPFN) in Lalitpur on Tuesday.

Speaking at the event, Finance Minister Rameshore Prasad Khanal reportedly said the decision aims to enhance transparency and accountability in public finance management.

However, the RSS report did not specify when the provision would take effect or under which laws it has been introduced.

The finance minister said the government has simplified online services at the Inland Revenue Office and is working to integrate the tax system with local governments to improve efficiency and compliance, RSS further reported.

Khanal also said more than Rs 30 billion has been set aside as a reserve for the federal, provincial and local governments to support reconstruction efforts.

At the programme, economist Dr Kusum Shakya stressed the need to prioritise economic revival, noting that political changes following the Gen-Z movement have had a significant impact on the economy.

Former National Planning Commission Vice Chairman Dr Govinda Raj Pokharel highlighted the importance of strengthening economic governance through effective management of the bureaucracy, describing it as a key element of the development process.

Meanwhile, former National Planning Commission member Dr Dilli Raj Khanal presented a paper outlining structural weaknesses in Nepal’s financial system and identifying areas requiring reform. – With inputs from RSS