Pokhara, 17 February | In a major policy shift aimed at curbing non-transparent spending, the Election Commission of Nepal has enforced a mandatory requirement for all political parties and candidates to conduct their election-related transactions through designated bank accounts. Under this new directive, candidates contesting the House of Representatives election are required to open a separate bank account and utilize it for any expenditure exceeding NPR 25,000. As of Monday, approximately 671 out of 3,406 first-past-the-post (FPTP) candidates have already integrated into the banking system by opening these accounts. Commission Spokesperson Narayan Prasad Bhattarai noted that while the pace is increasing, a significant portion of candidates is yet to comply with this transparency measure.
The Commission has established varied spending ceilings ranging from NPR 2.5 million to NPR 3.3 million per candidate, depending on the geographical and demographic factors of their respective constituencies. Secretary Krishna Bahadur Raut highlighted an interesting trend where candidates from remote districts, such as Kalikot, have achieved nearly full compliance in opening accounts, whereas those from more accessible urban districts are lagging. This initiative marks the first time that the Election Commission has prohibited “hand-to-hand” cash transactions for significant campaign costs, introducing a specific manual to regulate the flow of funds.
To facilitate this transition, the Commission recently held high-level discussions with the Chief Executive Officers of various commercial banks. During the meeting, Acting Chief Election Commissioner Ram Prasad Bhandari emphasized that the banking system is the only viable method to maintain economic discipline and accountability during the electoral period. Candidates are required to appoint a specific official responsible for managing these accounts and must submit audited expenditure reports within 35 days of the election result announcement. With bank branches now available in all 753 local levels across Nepal, the Commission believes there is no longer a logistical barrier to maintaining financial transparency.
