Ministry of Finance (Nepal)

Ministry of Finance
अर्थ मन्त्रालय
Agency overview
Formed 1963
Headquarters Singha Durbar, Kathmandu
Minister responsible
Website mof.gov.np

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 Dr. Yuba Raj Khatiwada, appointed on 26 February 2018.[1][2][3]

The main gateway to Singha Durbar, inside which is the Ministry of Finance.

History

The predecessor of the Ministry of Finance of Nepal, the Ministry of Economic and Planning was established in 1963. In 1986, 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.[4]

Mandate

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 coordination with the World Bank, the International Monetary Fund, the Asian Development Bank and other International Financial Institutions.

Structure & Departments

The Ministry is divided into several divisions:[4]

  • 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:

Former Finance Ministers

Finance Ministers of the Kingdom of Nepal

This s a list of all former Finance Ministers of the Kingdom of Nepal (until 2008)[5]:

  1. Subarna Shamsher Rana
  2. Kaiser Shumsher Jang Bahadur Rana
  3. Matrika Prasad Koirala
  4. C. V. Singh
  5. Rishikesh Shah
  6. Surya Bahadur Thapa
  7. Surendra Bahadur Basnet
  8. Kirti Nidhi Bista
  9. Gehendra Bahadur Rajbhandari
  10. Bhekh Bahadur Thapa
  11. Yadav Pant
  12. Prakash Chandra Lohani
  13. Bharat Bahadur Thapa
  14. Pashupati Shamsher Jang Bahadur Rana
  15. Devendra Raj Pandey
  16. Girija Prasad Koirala
  17. Mahesh Acharya
  18. Bharat Mohan Adhikari
  19. Sher Bahadur Deuba
  20. Ram Saran Mahat
  21. Rabindra Nath Sharma
  22. Badri Prasad Shrestha
  23. Madhukar Shamsher Rana
  24. Roop Jyoti

Finance Ministers during the transition phase of Nepal

This is a list of former Finance Ministers of the Nepal during its transiotion phase (2008 - 2013):[5]

Name Party Assumed Office Left Office
1 Baburam Bhattarai[6]Communist Party of Nepal (Maoist Centre)
2 Surendra Pandey[7]Communist Party of Nepal (Unified Marxist–Leninist)25 May 20096 February 2011
3 Bharat Mohan AdhikariCommunist Party of Nepal (Unified Marxist–Leninist)6 February 20114 September 2011
4 Barsaman Pun[8]Communist Party of Nepal (Maoist Centre)4 September 2011
5 Shankar Prasad Koiralaindependent18 March 201311 February 2014

Finance Ministers since 2013

This is a list of all former Finance Ministers since the Nepalese Constituent Assembly election in 2013:

Name Party Assumed Office Left Office
1 Ram Saran Mahat[9]Nepali Congress25 February 2014
2 Bishnu Prasad PaudelCommunist Party of Nepal (Unified Marxist–Leninist)5 November 2015
3 Dy. PM Krishna Bahadur Mahara[10]Communist Party of Nepal (Maoist Centre)4 August 201631 May 2017
4 Gyanendra Bahadur Karki[11]Nepali Congress7 June 201715 February 2018
5 Yuba Raj Khatiwada[12]Communist Party of Nepal (Unified Marxist–Leninist)16 March 2018

References

  1. ↑ http://www.mof.gov.np//en/introduction-61.html
  2. ↑ http://www.ekantipur.com/2011/09/14/top-story/mof-nrb-non-cooperation-halts-ciaa-probe/340810.html
  3. ↑ http://www.ekantipur.com/2013/04/02/top-story/moha-demands-rs-8b-for-law-and-order/369400.html
  4. 1 2 "Introduction". Government of Nepal. Retrieved 1 April 2018.
  5. 1 2 "नेपालका पूर्व अर्थ मन्त्रीहरु" (in Nepali). Government of Nepal. Retrieved 1 April 2018.
  6. ↑ "Prachanda elected PM with 464 votes". nepalnews.com. Retrieved 15 August 2008.
  7. ↑ "Backgrounder: Nepali cabinet member list". People.cn. Retrieved 1 November 2017.
  8. ↑ "PM Bhattarai swears in 13 more Cabinet members". The Kathmandu Post. Retrieved 15 October 2017.
  9. ↑ "Meet the new cabinet of ministers". Nepali Times. Retrieved 1 October 2017.
  10. ↑ "Prime Minister Dahal expands Cabinet, adds three ministers". The Himalayan Times. Retrieved 11 November 2017.
  11. ↑ "Deuba sworn in as 40th PM, forms Cabinet by inducting 7 ministers". The Kathmandu Post. Retrieved 20 October 2017.
  12. ↑ "PM inducts 15 new ministers in his Cabinet". The Kathmandu Post. Retrieved 1 April 2018.


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