KATHMANDU: Newly appointed Finance Minister Dr Swarnim Wagle has assumed office today. After taking oath of office and secrecy before President Ramchandra Paudel, Finance Minister Wagle reached the Finance Ministry and assumed office.
Taking charge of his responsibility, he expressed the commitment of implementing important suggestions of the High-Level Economic Reform Recommendation Commission, 2081.
Finance Minister Wagle decided to dissolve Department of Revenue Investigation as well as forwarding a process immediately to scrap 15 different acts or for their amendment.
An economic status paper up to March 25, 2026 will be prepared within five days, and a 100-day, half-yearly and annual action plans will be prepared for effective implementation of government’s election commitment paper, he added.
The new Finance Minister opined that priority will be given to security and promotion of private enterprises and businesses, facilitating large development projects as well as formulating new bills or amendment to existing laws in order to remove procedural complexities.
“Now, an environment will be created to forward large projects smoothly,” he underlined, sharing that a policy will be adopted to solve problems seen in economy holistically.
Implementation of recommendation of the Public Expenditure Review Commission, growth of domestic production, employment creation and formulation of transformative budget will be prioritized, viewed Minister Wagle.
The acts that are in the process of scrap in accordance with the report of High-Level Economic Reform Recommendation Commission are—Income Ticket Charge Act, 2019, Black Marketing and some other Social Offences and Punishment Act, 2032, Private Forest Nationalization Act, 2013, Administrative Procedures (Regulation) Act, 2013, Compensation Act, 2019, Birta Abolition Act, 2016, Act Prohibiting Birta Land Owners From Renting Out the Birta Land For Economic Gains, 2015, Revenue Leakage (Investigation and Control) Act, 2052, Act Restricting Invest Abroad, 2021 and Nepal Agency Act, 2014.
Similarly, Provincial Development Plan (Implementation) Act, 2013, Import-Export (Control) Act, 2013, Social Practices Reform Act, 2033, Act to Provide Enhancement of Circulation of Nepalese Currency, 2014, Act relating to Institutions Acting as Financial Intermediary, 2055 will also be scrapped.
Also the Vice President of Rastriya Swatantra Party (RSP), Wagle shared that the incumbent government would forward a comprehensive roadmap for economic and legal reforms by adopting private sector-friendly policy.
Newly appointed Finance Minister Wagle is internationally recognized figure and experienced in country’s economic policy leadership.
