Province governments found mishandling billions in public assets

english.clickmandu.com · 18 hours ago

Nepal’s provincial governments are facing significant challenges in managing public assets worth nearly Rs 40 billion, according to a report by the Office of the Auditor General. The report highlights weaknesses in record-keeping, valuation, and protection of government-owned property, with billions in assets vulnerable to misuse. Major discrepancies exist between financial statements and asset management databases, and thousands of assets are recorded at nominal values, increasing the risk of misappropriation. Despite constitutional authority, provinces lack dedicated asset management laws, leading to improper classification and valuation.