The National Natural Resources and Fiscal Commission has reported that 17 local governments borrowed a total of Rs 338.7 million from the Town Development Fund in fiscal year 2082/83 without including the loans in their annual budgets or obtaining approval from the Nepal government.
The findings are included in the commission’s eighth annual report, which was presented to the National Assembly of the Federal Parliament. The report describes the borrowing as internal loans raised by local governments from the fund.
Commission flags unapproved borrowing
According to the report, the local governments did not include the loans in their annual budgets and had not received government approval for the borrowing. The commission’s report brought the issue before the National Assembly.
