KATHMANDU: Minister for Finance, Communication and Information Technology Yuba Raj Khatiwada has resigned on Friday.

He handed over his resignation to Prime Minister KP Oli. Earlier, he had attended a farewell function at the Ministry of Finance.

Minister Khatiwada had announced his decision during a meeting of the Cabinet held at the Prime Minister’s official residence in Baluwatar today.

Khatiwada had been relieved of his post as lawmaker six months ago. He had been appointed as the finance minister for six months as per Article 78 of the Constitution of Nepal.

The possibility for Khatiwada to get continuity as a finance minister had ended with the ruling Nepal Communist Party Secretariat meeting’s decision to take the party’s Vice Chairman to the National Assembly.

With this decision, the search for a candidate for the post of finance minister has started in the ruling NCP.

According to sources, Vice Chairman Gautam, General Secretary Bishnu Poudel, Standing Committee members Janardan Sharma and Surendra Pandey are in the fray for the post of Finance Minister.