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Implementation Status of SPFMP

Implementation Status of SPFMP. January 30, 2013. Outline of Presentation. Introduction and Objectives of the Project The PEFA Framework in Nepal Project Components Project Financing Physical and Financial Achievements of Project Implementation Issues Ongoing Activities Way forward

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Implementation Status of SPFMP

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  1. Implementation Status of SPFMP January 30, 2013

  2. Outline of Presentation • Introduction and Objectives of the Project • The PEFA Framework in Nepal • Project Components • Project Financing • Physical and Financial Achievements of Project • Implementation Issues • Ongoing Activities • Way forward • Capability plan and resource gap

  3. Introduction and Objective of the Project • Government of Nepal has introduced a Project on Public Financial Management (PFM) reform focusing on strengthening PFM system with the support of Multi Donor Trust Fund.(Starting Date: October 1st 2011, Ending Date: December 31st 2014 ) • Higher Level objectives of the project are to improve the PFM System of GoN and to contribute to the fiscal consolidation agenda of GoN. • The Specific objective of the project is to improve expenditure and enhance government accountability and transparency by strengthening treasury system , improving financial reporting and building up PFM capacity.

  4. PEFA Framework in Nepal • PEFA is an Integrated Public Financial Management Reform agenda of Government of Nepal. • PEFA Assessment was conducted in 2007-08 and Report published in 2008 with 31 performance indicators (of which 3 are Donors related) which are recognised globally, • The main objective of PEFA Nepal is to enhance accountability and transparency of the public expenditure.

  5. SPFMp Components

  6. Project financing

  7. Overall ProgressPhysicalTarget and Achievement of FY 2011/12

  8. Physical Progress on Component 3

  9. Financial Target (NRs.)

  10. Financial Achievement.... • In percentage

  11. Component 3: Financial status

  12. Ongoing Activities • Roll-out the TSA System in all districts • Enrichment and strengthening of IT HUBs (7) • Support to DTCOs for TSA Implementation (for the improvement of physical facilities and capacity development) • PEFA Orientation Programs, Seminars, Workshops and PFM related Trainings, • Further Development of PFM/PEFA related IEC materials • Strengthening PIUs and DPIUs • Preparation for Repeat PEFA Assessment (NPPR Action plan ) • Preparation of NPSAS implementation • Exposure visits on PEFA/TSA/NPSAS study cum observation • Local PFM Donors Forum (Meeting every two months)

  13. Implementation Issues • Poor understanding on PFM/PEFA among the stakeholders • Budget not fully policy and programs • Relatively Complicated procurement legislation and weak HRD on public procurement • Weak interagency coordination and cooperation in enhancing PFM • Human Resource Management • Political instability

  14. The Way Forward • Overall: • Roll out of TSA with full functional Core Treasury System. • Implementation and institutionalization of the NPSAS based on the cash based IPSAS. • Repeater PEFA Assessment • Internalize and integrate PEFA tool as a challenge and opportunity to improve transparency and accountability in PFM • A fully functional Debt Management System of global standards • Expenditure control (capping over expenditures) and forecasting mechanism • Effective human resources planning ,PFM capacity development • Implementation of the recommendations of the Government Budget Management and Expenditure Review Commission • Enhancing IT system for smooth and consistent operation in FCGO and DTCOs

  15. The Way Forward…… • Implementation of PFMRP Strategy Phase I • Conduct Research studies into high priority areas of PFM; which are as under: Debt Management • Expenditure Tracking surveys • Commitment Accounting • Public property management and accounting • Establishment of PFM Training Academy • HRM Strategic Plan in PFM • Capability Development Plan • Trainings: • Master trainers for PEFA Assessment • Master trainers for NPSAS/ IFRS • PFM area • Exposure visits: • PEFA Assessment Best Practices • PFM Reform Best Practices • IPSAS, IFRS Best Practices • TSA Best Practices

  16. Thank you

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