National
PM’s office working on policy for self-regulated private, public sectors
The government is preparing to introduce a policy for making public and private sectors more accountable in their monetary and policy decisions at a time when corruption, irregularities and lack of transparency plague both kinds of organisations.The government is preparing to introduce a policy for making public and private sectors more accountable in their monetary and policy decisions at a time when corruption, irregularities and lack of transparency plague both kinds of organisations.
The agencies that use taxpayers’ money and provide public service, including private sector organisations and government entities, will have to follow the Good Conduct Policy whose drafting is in the final stage at the Prime Minister’s Office.
The new policy requires the government bodies, private firms, INGOs and NGOs working with the government to declare their activities and enact own regulations
with an aim to maintain transparency and accountability, to end corruption and to achieve goals.
Those who come under the purview of the policy should make public their self-regulation guidelines on decision-making and financial transactions as well as the plan of implementation.
Officials hope this will aid good governance in private and public organisations.
“We hope this will engage private and public sectors in the practice of self regulation. This will greatly help us in our quest for transparency in decisions, their implementation and streamlining financial transactions,” said Kedar Bahadur Adhikari, secretary at the Prime Minister’s Office.
No private or government sector has so far demonstrated self regulation while very few international donors conduct public audit of their works.
All responsible bodies should frame policies related to economic and financial matters, decision-making, accountability, and implementation and auditing process, which would be strictly monitored.
Several regulatory bodies will be assigned to monitor the progress in the initial phase until law governs the system. After the policy, the government will introduce an umbrella Act for its effective implementation.
There are duplications and multiple standards of work in government agencies and the private sector in decision-making and expenditures, leading to a host of irregularities.
“Once the self declaration policy is enacted, no organisation can apply one rule differently for favour or will pay different amounts to different people for the same work,” he said. The move is also expected to encourage officials to uphold national interest in their activities and discourses and to maintain a record of the same.
Many countries have already taken such measures. “That is what we want to do here. Once we create a framework, the law will be enforced,” said Secretary Adhikari.
Good Conduct Policy
Aim: Making public and private sectors more accountable in their monetary and policy decisions
Agencies that use taxpayers’ money and provide public services will have to follow the Good Conduct Policy
Policy requires government bodies, private firms, INGOs and NGOs to declare their activities and enact own regulations