Govt providing an additional Rs 7.50 billion to purchase chemical fertilizers

Kathmandu / Feb 20: The government has allocated an additional Rs 7.50 billion to purchase chemical fertilizers necessary for the current fiscal year.

Issuing a press statement on Monday, the Ministry of Finance (MoF) has said it has approved the amount as per the proposal sent by the Ministry of Agriculture and Livestock Development (MoALD). Of the total amount, Rs 2.40 billion will be provided to the MoALD from the annual budget allocated for the ministry.

Similarly, Rs 2.50 billion will be managed from the expenditure ceiling to be maintained from the budget for the next fiscal year. The remaining amount of Rs 2.60 billion will be released on a needs basis.

Through the budget announcement for the fiscal year 2022/23, the government had allocated Rs 15 billion to purchase chemical fertilizers. Later on, the MoF had disbursed an additional Rs 16 billion for the purpose.