KATHMANDU, JULY 6
The National Vigilance Centre, an anti-corruption watchdog under the Office of the Prime Minister and Council of Ministers, has suggested to the Pashupati Area Development Trust to deposit its amount in a commercial bank which provides the highest interest through bidding by publishing a public notice.
According to an investigation report on alleged financial irregularities in the PADT, around Rs 2.81 billion has been deposited in various banks and financial institutions.
Revolving fund accounts have been opened in 25 BFIs, fixed deposit accounts in 11 BFIs, savings accounts in 99 BFIs for the purpose of depositing the amount.
"Despite the fact that depositing the amount in a bank that provides the highest interest rate in revolving fund account, savings account and other accounts will benefit the PADT, the governing body of Pashupatinath temple does not seem to be paying attention to it.
Therefore, it will be reasonable for the PADT to deposit the amount in a commercial bank that offers the highest interest in various accounts through bidding by publishing a public notice," the report suggests.
Even the annual report (2020-2021) of the Office of the Auditor General had suggested the PADT to deposit its amount in a bank that provides the highest interest rate. The Policies and Programmes (2019-2020) of the Government of Nepal had said the amount of the PADT would be deposited in the banks so as to earn maximum interest.
"Instead of soliciting proposals from commercial banks by publishing a public notice, the PADT seems to be directly opening various accounts in BFIs on its own without negotiation. The interest earnings decreased by 15.53 per cent in 2021 compared to the previous year due to the lack of proper management of funds," the report says.
The PADT is also found to have opened accounts exceeding the requirement without justification thereof.
It has held 139 accounts in various BFIs. The OAG report had also suggested it to reduce the number of bank accounts, but in vain.
Disregarding the suggestion of the OAG, the PADT had opened more accounts rather than reducing its number.
A version of this article appears in the print on July 7, 2022, of The Himalayan Times.
