Joint Venture Projects of Local Governments – Modified Guidelines For Drawal of Funds

Admin | February 1, 2017 | Joint Venture, Planning | No Comments

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Government as per Government Order G.O(P) No.07/2017/Fin dated 23/01/2017 are pleased to modify the existing guidelines for the drawal of funds for Joint Venture Projects of Local Governments as detailed below,
i. Only joint venture projects approved by DPC can be taken up.
ii. Local Governments, which are actually implementing the joint venture projects, may be allowed to open special TSB accounts in the treasury concerned for depositing funds set apart by the Local Governments. No other funds, other than funds for the joint venture projects, shall be deposited into this account.
iii. Local Governments contributing to the project should transfer credit the funds earmarked for the joint venture project to the special TSB account opened by the implementing Local Government in single installment on or before 30th of September.
iv. Payments may be effected from this account using cheques.
v. The implementing Local Government should assess the progress of the project in the last week of February. If the Local Government foresees that payment cannot be fully effected during the financial year, then the amount unlikely to be utilized should be returned to the respective Local Governments before 28th February so as to facilitate them utilizing the funds.
For more details please download order from below download link,

Download Order G.O(P) No.07/2017/Fin dated 23/01/2017

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