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Nepalese finance minister Khatiwada resigns

DIGEST-ENG-05-09-2020-Nepal

Nepal’s Finance Minister Yubaraj Khatiwada has tendered resignation from his ministerial position.

Officials at the Ministry of Finance said Finance Minister Khatiwada, who also held the ministerial portfolio of the Ministry of Communications and Information Technology, tendered his resignation to Prime Minister KP sHARMA Oli on Friday evening. Khatiwada had taken part in a farewell program organized at the finance ministry before he went to Baluwatar to submit the resignation to the prime minister.  

Addressing a brief farewell program, Khatiwada said that he was able to lay a concrete foundation of the country's economy even during the most difficult days/ While stating that the days ahead are challenging due to the effects of COVID-19 pandemic, Khatiwada said that he was able to bring significant improvements in the country's revenue during his two and half year long stint as the finance minister.

Although Prime Minister Oli wanted to retain him as finance minister by nominating him as a member of National Assembly, he was forced to give in to the demand of the rival faction within the party to nominate NCP Vice-Chairman Bam Dev Gautam as a member of National Assembly. Sources close to the prime minister said it is still uncertain who will be given the portfolio of finance ministry despite the fact that Gautam has expressed his desire to hold the post.

Earlier on Friday, a cabinet meeting held at the residence of Prime Minister Oli in Baluwatar had decided to recommend the name of Gautam to President Bidya Bhandari for the appointment of a member of the National Assembly. The post was vacant after Khatiwada’s two-year term expired six months ago.