Ministry of Finance (Nepal)
Ministry of Finance is the central authority of Government of Nepal charged with the responsibilities for maintaining both micro and macro economic stability in the country. The position of finance minister in Nepal is currently held by Bishnu Prasad Paudel, appointed on 14 October 2020.
|Headquarters||Singha Durbar, Kathmandu|
The predecessor of the Ministry of Finance of Nepal, the Ministry of Economic and Planning was established in 1963. In 1968, this Ministry was dissolved and the Ministry of Finance as well as the National Planning Commission of Nepal were set up. Ever since, the Ministry was the highest financial authority of Nepal.
The mandate of the ministry includes the following: Formulation, implementation, monitoring and evaluation of economic and revenue policy, financial administration and control of plans and programs, Financial analysis, Currency, determination and implementation of monetary policy. Also it is responsible for the Central Bank of Nepal, Nepal Rastra Bank (Including Nepal Industrial Development Corporation) and co-ordination with the World Bank, the International Monetary Fund, the Asian Development Bank and other International Financial Institutions.
Structure and departmentsEdit
The Ministry is divided into several divisions:
- Revenue Advisory Committee
- International Economic Cooperation Co-ordination Division
- Budget and Programme Division
- Corporation Co-ordination and Privatisation Division
- Revenue Administration Division
- Economic Affairs and Policy Analysis Division
- Administrative Division
- Legal Division
- Monitoring and Evaluation Division
The Ministry of Finance furthermore consists of the following six Departments:
- Office of the Financial Comptroller General - the main government agency responsible for the treasury operation of the Government of Nepal
- Department of Customs
- Inland Revenue Department
- Department of Revenue Investigation
- Revenue Administration Training Center
- Department of Money Laundering Investigation
Former Finance Ministers of the Kingdom of NepalEdit
- Subarna Shamsher Rana, February 1951
- Kaiser Shumsher Jang Bahadur Rana, 1952
- Matrika Prasad Koirala, June 1953
- S. Gunjaman Singh, January 1957
- C. B. Singh, July 1957
- Subarna Shamsher Rana, May 1958
- Rishikesh Shah, December 1960
- Surya Bahadur Thapa, July 1962
- Surendra Bahadur Basnet, September 1968
- Kirti Nidhi Bista, April 1969
- Gehendra Bahadur Rajbhandari, April 1970
- Kirti Nidhi Bista, April 1971
- Bhekh Bahadur Thapa, July 1973
- Ram Prasad Rajbahak, April 1979
- Surya Bahadur Thapa, May 1979
- Yadav Pant, June 1980
- Prakash Chandra Lohani, July 1983
- Bharat Bahadur Thapa, March 1986
- Pashupati Shamsher Jang Bahadur Rana, April 1990
- Devendra Raj Pandey, April 1990
- Girija Prasad Koirala, May 1991
- Mahesh Acharya, December 1991
- Bharat Mohan Adhikari, November 1994
- Ram Saran Mahat, September 1995
- Rabindra Nath Sharma, March 1997
- Ram Saran Mahat, April 1998
- Bharat Mohan Adhikari, December 1998
- Mahesh Acharya, May 1999
- Ram Saran Mahat, July 2001
- Badri Prasad Shrestha, October 2003
- Prakash Chandra Lohani, June 2003
- Bharat Mohan Adhikari, June 2004
- Madhukar Shamsher Rana, February 2005
Former Finance Ministers during the transition phase of NepalEdit
This is a list of former Finance Ministers of the Nepal during its transition phase (2008 - 2013):
|SN||Name||Party||Assumed office||Left office|
|1||Baburam Bhattarai||Communist Party of Nepal (Maoist Centre)||NA||NA|
|2||Surendra Pandey||Communist Party of Nepal (Unified Marxist–Leninist)||25 May 2009||6 February 2011|
|3||Bharat Mohan Adhikari||Communist Party of Nepal (Unified Marxist–Leninist)||6 February 2011||4 September 2011|
|4||Barsaman Pun||Communist Party of Nepal (Maoist Centre)||4 September 2011|
|5||Shanker Prasad Koirala||independent||18 March 2013||11 February 2014|
Former and current Finance Ministers since 2013Edit
This is a list of all former Finance Ministers since the Nepalese Constituent Assembly election in 2013:
- - Current Finance Minister
|SN||Name||Party||Assumed office||Left office|
|1||Ram Saran Mahat||Nepali Congress||25 February 2014||12 October 2015|
|2||Bishnu Prasad Paudel||Communist Party of Nepal (Unified Marxist–Leninist)||5 November 2015||1 August 2016|
|3||Krishna Bahadur Mahara||Communist Party of Nepal (Maoist Centre)||4 August 2016||31 May 2017|
|4||Gyanendra Bahadur Karki||Nepali Congress||7 June 2017||15 February 2018|
|5||Yuba Raj Khatiwada[a]||Communist Party of Nepal (NCP)||16 March 2018||4 September 2020|
|6||Bishnu Prasad Paudel||Communist Party of Nepal (NCP)||14 October 2020|
- Khatiwada had to resign from his ministeral posts on 3 March 2020, as his two-year term in the Rastriya Sabha ended, however he was reappointed only on the next day.
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- "नेपालका पूर्व अर्थ मन्त्रीहरु" (in Nepali). Government of Nepal. Retrieved 1 April 2018.
- "Prachanda elected PM with 464 votes". nepalnews.com. Archived from the original on 22 November 2008. Retrieved 15 August 2008.
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- "Deuba sworn in as 40th PM, forms Cabinet by inducting 7 ministers". The Kathmandu Post. Retrieved 20 October 2017.
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- "PM inducts 15 new ministers in his Cabinet". The Kathmandu Post. Retrieved 1 April 2018.
- "Yubaraj Khatiwada resigns as finance and communication minister". kathmandupost.com. Retrieved 4 September 2020.
- "मन्त्रिपरिषद पुनर्गठन : ईश्वर पोखरेलको मन्त्रालय खोसियो, विष्णु पौडेललाई अर्थ (सूचीसहित)". Onlinekhabar (in Nepali). Retrieved 14 October 2020.