Though, it was necessary as his tenure as the finance minister was coming to an end tomorrow, finance minister Dr Yuba Raj Khatiwada has resigned today.
Khatiwada – who was also looking after the Communication and Information Technology portfolio – today submitted his resignation to Prime Minister KP Sharma Oli. Earlier, Khatiwada on expiration of his tenure as a member of the National Assembly on March 3 had resigned from his post. But, as reappointed as the minister – within 24 hours – for an additional term of six months according to the constitutional provision. Had the government – led by Prime Minister KP Sharma Oli – nominated him in the Upper House within 6 months, he could have continued as the minister. However, the meeting of the ruling party nominated party vice-chair Bam Dev Gautam to the National Assembly, which sent Khatiwada’s chances of reappointment crashing.
After his resignation, Khatiwada took part in a farewell programme organised at the Finance Ministry by the ministry. Khatiwada – addressing the farewell programme – said that he was able to lay a concrete foundation of the economy even during the most difficult days. Saying that the days ahead are challenging due to the effects of Covid-19 pandemic, Khatiwada boosted that he was able to bring significant improvements in revenue during his two-and-a-half year long stint as the finance minister. Khatiwada, who became one of the luckiest finance ministers to bring three consecutive budgets, failed measurably in bringing any reforms in public expenditure, budgetary allocations, economy or federal fiscal policies despite being the most favourite minister – of the almost two-third majority stable government – of Prime Minister Oli. Premier Oli wanted to retain him as finance minister by nominating again as a member of National Assembly but could not as he was forced to give in to the demand of the rival faction within the party to nominate NCP vice chair Bam Dev Gautam.
A cabinet meeting held at the residence of Prime Minister Oli in Baluwatar today morning decided to recommend the name of Gautam to President Bidya Devi 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.
There is only one seat vacant in the National Assembly and the ruling NCP (NCP) yesterday decided to nominate party vice chair Gautam.
Meanwhile, Prime Minister Oli has himself taken the responsibilities of both finance, and information and communications ministries.
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