'Nepal's accounting system is excellent'

By A Staff Reporter,Kathmandu, Mar. 26: The World Bank has termed Nepal's accounting system excellent. During a courtesy meeting with Finance Minister Barsaman Pun on Monday, Vice President for Finance and World Bank Controller  Pam O’Connell said that Nepal's accounting system was reliable and orderly.

"A few days ago, I visited the Office of the Auditor General and Financial Comptroller General,” she said. "I found the accounting system of Nepal to be very reliable and systematic."

According to a press statement issued by the Ministry of Finance, she said that the paperless system adopted in accounting would be instrumental for good governance.

In response, Minister Pun recalled that when he first became the Finance Minister 12 years ago, he implemented computerised accounting technology in revenue and accounting, and mentioned that he would make improvements in the changed context to make it more technology-friendly and customer-friendly.

He said that the government would adopt technology for keeping the accounting system transparent.

Finance Minister Pun said that there was a need to increase Nepal's spending capacity. The ministry has prepared an action plan to improve working style along with manpower development in this regard.

He said that Prime Minister Pushpa Kamal Dahal Prachanda had been paying special attention to inter-ministerial coordination since the formation of the present government in order to solve the problems arising in the process of advancing the development projects.