Prime Minister Holds Discussions with Private Sector Representatives Amid Finance Minister Dr. Swarnim Wagle’s Absence
Summary: In the absence of Finance Minister Dr. Swarnim Wagle, Prime Minister Balendra Shah has directly engaged in discussions with representatives from the private sector and securities stakeholders. There appears to be policy disagreements between Prime Minister Shah and Finance Minister Wagle regarding budget matters and the modality of government-run industries. Due to power struggles and clashes in working styles within the Rastriya Swatantra Party (Raswapa), the Prime Minister’s Office has been conducting parallel activities within the Finance Ministry’s domain. Kathmandu, 5 Shrawan.
Prime Minister Balendra Shah has been holding continuous discussions with representatives from various private sector organizations over the past few weeks. While these representatives meet the Prime Minister at his office, they often seek the presence of Finance Minister Dr. Swarnim Wagle, who, however, has not attended any of these meetings. “Though the responsibility to implement any commitments made by the Prime Minister lies with the Ministry of Finance, the absence of the Finance Minister in these meetings was noticeably felt,” said a businessman who participated in one of the sessions. “Nevertheless, we are encouraged by assurances from the highest level of government that our issues will be addressed.”
Prime Minister Balendra Shah’s separate meetings with leaders ranging from the President of the Federation of Nepalese Chambers of Commerce and Industry to CEOs of banks, without the Finance Minister’s presence, have been notable to private sector representatives. For instance, on Monday, the Prime Minister met directly with stakeholders in the securities sector. Finance Minister Wagle was also absent from this meeting. Instead, the Prime Minister summoned Dr. Gopal Bhatt, Chairperson of the Nepal Securities Board, and Amrit Lamsal, Chairperson of the Nepal Stock Exchange and Joint Secretary at the Ministry of Finance. The Prime Minister discussed investors’ feedback and questions with Bhatt and Lamsal during the session.
While Prime Minister Balendra Shah — who is a senior government minister and holds the Rastriya Swatantra Party chairmanship with Finance Minister Wagle ranked below as vice-chair — has been handling economic matters independently, the Finance Minister has been effectively sidelined. According to a government official, this approach indicates not only the Prime Minister’s lack of confidence in the Finance Minister but also reflects the ongoing power struggle within the Raswapa party. As the Prime Minister’s Office has begun conducting activities parallel to those of the Finance Ministry, Dr. Wagle has reportedly grown frustrated with the Prime Minister, according to sources close to him.
