Rs 6.72bn citizens saving bond in offing
KATHMANDU, May 23:
The central bank is issuing citizens saving bonds worth Rs 6.72 billion.
According to the budget for the current fiscal year 2010-11, the finance ministry has planned to cover budget deficit worth Rs 33.68 billion through public debt.
However, the central bank has been able to issue a total of Rs 10.75 billion worth government securities only due to government’s inability in spending.
Only one-and-a-half month has remained of the current fiscal year but a central bank officer said that it will issue remaining bonds before the fiscal year ends, if the government requires funds to finance its deficit.
According to central bank’s bond issue calendar, the central bank has planned to issue Treasury Bills worth Rs 10 billion, development bonds worth Rs 8 billion, citizen saving bond worth Rs 10.68 billion and foreign employment bond worth Rs 5 billion in the current fiscal year to cope with the fiscal deficit.
“However, the government budget has remained surplus of Rs 6.29 billion by mid-March so that the necessity of issuing more bonds to support the government’’s spending may not be required,” the central bank said.
Of the total sanctioned expenditure worth Rs 150 billion in the first eight months of the current fiscal year, the government has been able to spend only Rs 133 billion.
Source: THT
The central bank is issuing citizens saving bonds worth Rs 6.72 billion.
According to the budget for the current fiscal year 2010-11, the finance ministry has planned to cover budget deficit worth Rs 33.68 billion through public debt.
However, the central bank has been able to issue a total of Rs 10.75 billion worth government securities only due to government’s inability in spending.
Only one-and-a-half month has remained of the current fiscal year but a central bank officer said that it will issue remaining bonds before the fiscal year ends, if the government requires funds to finance its deficit.
According to central bank’s bond issue calendar, the central bank has planned to issue Treasury Bills worth Rs 10 billion, development bonds worth Rs 8 billion, citizen saving bond worth Rs 10.68 billion and foreign employment bond worth Rs 5 billion in the current fiscal year to cope with the fiscal deficit.
“However, the government budget has remained surplus of Rs 6.29 billion by mid-March so that the necessity of issuing more bonds to support the government’’s spending may not be required,” the central bank said.
Of the total sanctioned expenditure worth Rs 150 billion in the first eight months of the current fiscal year, the government has been able to spend only Rs 133 billion.
Source: THT
