The Ministry of Finance is focusing on creating a detailed implementation plan for the National Development Plan (NDP).
Deputy Prime Minister and Minister of Finance, Professor Biman Prasad, made this announcement in a recent statement to Parliament, emphasizing the importance of a clear strategy for resource allocation. He noted that the government must engage in prudent and effective planning, particularly given limited resources.
“There is a need to ensure that this plan aligns available resources with revenue forecasts to maintain financial stability and to avoid overly ambitious projections and underfunded priorities,” Prof Prasad stated.
He explained that the ministry is dedicated to developing a comprehensive implementation plan that includes specific resource allocations. He also called for effective coordination and collaboration between the government and development partners to optimize resource allocation and usage.
Prof Prasad remarked that the traditional ‘silo approach’ to resource management has negatively affected the effectiveness of program delivery. He emphasized that the implementation process will be rooted in a results-oriented, transparent, and accountable framework, supported by strong monitoring and evaluation mechanisms.
The monitoring strategy will include regular data collection to evaluate progress towards intended outcomes, along with progress reports based on set timelines, allowing for timely interventions when necessary.
“Chapter 9 of the NDP outlines the implementation, monitoring, and evaluation framework as well as the associated processes,” he said.
He underscored the significance of state capacity and coordination in ensuring effective implementation and achieving the goals of the NDP. The government is committed to enhancing the capabilities within the civil service to facilitate policy planning and execution for successful NDP outcomes.