The budget holiday in Koshi Province ended on Sunday with ordinances on the budget estimates issued.

In a statement, Narendra Shrestha, spokesperson at the Office of Provincial Head, said Provincial Head Parshuram Khapung authenticated Koshi Province Financial Ordinance 2023 and Koshi Province Appropriation Ordinance 2023 on the recommendation of the Council of Ministers in accordance with Article 202 (1) of the constitution.

A Cabinet meeting held on Saturday had recommended the ordinances before the provincial head.

The Koshi Province had entered a budget holiday after the deadline for the budget ordinance either to be endorsed as it is or be replaced with a new bill expired on August 27. A budget holiday means the government is unable to spend from the treasury.

The Koshi provincial government had unveiled a Rs36.24 billion budget for the fiscal year 2023-2024 through an ordinance on June 15.

The Constitution of Nepal has set a 60-day deadline to endorse an ordinance. Article 202 of the constitution says ordinances become ineffective if they are not endorsed within 60 days from the first sitting of the new provincial assembly session.

Chief Minister Karki, who has also taken charge of the Ministry of Economic Affairs and Planning, said no changes have been in the fiscal estimates unveiled some three months ago.