Rameshwor Khanal takes finance post; rejects perks — Day 1 wrap
BCANP Day 1 Wrap
Rameshwor Khanal takes finance post; rejects perks, tasked with healing economy after uprising
BCANP News Desk
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Kathmandu, Nepal
Rameshwor Prasad Khanal, a former finance secretary and respected economist, was sworn in today as Nepal’s new Finance Minister in the interim cabinet. He declared that he will not accept salary beyond the basic pay, and will refuse ministerial quarters, an official vehicle, personal security detail, or honorific titles. His mandate is to address high youth unemployment and economic grievances that fuelled the recent nationwide protests.
Timeline (Today)
- Appointment & oath: Interim PM Sushila Karki named Khanal as Finance Minister; he took the oath of office in Kathmandu.
- Perks refusal: Before assuming duties, Khanal announced he would decline ministerial residence, car, security officer, and special allowances.
- Economic context: His appointment comes as the interim government responds to Gen Z protests triggered by joblessness, corruption, and inequality.
- Immediate challenge: Nearly one-fifth of Nepali youth aged 15–24 are unemployed, according to international labour data.
Decisions & Quotes
- Technocratic leadership: Khanal, known for his civil service record and economic reform work, is seen as a stabilising choice for finance.
- Principled stand: His rejection of perks has been welcomed as a symbolic break from past privilege and a signal of accountability.
- Cabinet mandate: Along with other interim ministers, his charge is to restore confidence, improve governance, and prepare for elections by March.
Why it matters
The Finance Ministry is central to calming unrest and shaping recovery. Khanal’s refusal of luxury or privilege contrasts with past norms and may strengthen public trust if consistently upheld. Youth unemployment and economic hardship were key triggers of the protests; his first moves will be closely watched.
Background
Khanal previously served as Finance Secretary and chaired a High-Level Economic Reform Commission. He is widely respected in policy circles for his integrity and long civil service record.
The interim government was formed after mass youth-led protests earlier in September. Former Chief Justice Sushila Karki was appointed Prime Minister with a mandate to steer Nepal to elections scheduled for March 2026.
What’s next
- Khanal is expected to propose immediate measures to reduce unemployment, including public works and youth job programmes.
- The Finance Ministry may begin reviewing previous economic reform recommendations.
- The interim cabinet must present a credible fiscal plan to balance relief with reforms before elections.
Sources
- Reuters — Nepal picks three with reformist credentials for interim cabinet
- AP News — Nepal’s PM appoints 3 new ministers; elections plan
- The Business Standard — Nepal’s new interim ministers sworn in after protests
- SCMP — Nepal’s new PM vows to end corruption, follow protesters’ demands
- Nepse Trading — Khanal declines ministerial facilities
