Earlier the same day, the NA Standing Committee gave opinions on a project to allocate sources of capital  mobilised from the Government bonds.

According to the State Treasury, at the end of October 2009, only 47.5 percent of Government bonds sourced capital has been disbursed of which, 57 percent went to projects under State management and 42.2 percent to projects under local management.

After examining the use of Government bond sourced capital, the NA Committee for Finance and Budget agreed with the results obtained by the Government.

To prevent an economic downturn, ministries, sectors and localities have rapidly appraised and approved investment projects while readjusting the capital sources to be more flexible. Consequently, this year’s disbursement is better than last year’s.

However, the NA Committee for Finance and Budget pointed out that uncompleted projects and the slow implementation of projects wastes capital.

The committee also asked the Government to pinpoint the responsibility of leaders from various ministries, sectors and localities who deal with or carry out projects using capital sourced from Government bonds.

Most members of the NA Standing Committee consented to the appraisal results from the NA Committee for Finance and Budget and asked the Government to work out a plan to allocate Government bonds sourced capital for 2010 with priority given to projects for education, healthcare, agriculture and rural development.

They also underlined the need to stop providing capital for prolonged and ineffective projects.