KATHMANDU: Prime Minister Balendra Shah has intensified consultations on economic issues directly from the Prime Minister’s Office despite the presence of Finance Minister Dr. Swarnim Wagle, raising questions over coordination between the two offices.
The Prime Minister’s Office has been holding a series of discussions with stakeholders from the economic sector without the direct involvement of the Finance Ministry. Critics argue that the recent developments suggest either a growing role of the Prime Minister’s Office in economic affairs or a lack of coordination with the Finance Ministry.
PM and Finance Minister hold separate meetings
On Monday, Prime Minister Shah invited stakeholders from the capital market, securities sector and insurance industry for discussions at the Prime Minister’s Office.
The meeting included officials from bodies under the Finance Ministry, including Securities Board of Nepal (SEBON) Chairperson Gopal Bhatta and Nepal Stock Exchange (NEPSE) Chairperson Amrit Lamsal.
Other participants included Stock Brokers Association of Nepal President Sagar Dhakal, Sandeep Jalan of NAASA Securities, former NEPSE CEO Sitaram Thapaliya, Nepal Life Insurance Chief Executive Officer Navaraj Silwal, Citizen Stock Dealer Company Limited CEO Maheshwar Lal Shrestha, Priya Raj Regmi and Ambika Prasad Paudel.
According to the Prime Minister’s Office, discussions focused on the current state of the capital market, strengthening the securities and insurance sectors, policy reforms and broader issues concerning the national economy. These areas generally fall under the jurisdiction of the Finance Ministry, but Finance Minister Wagle was not present at the meeting.
At the same time, Finance Minister Wagle held a separate meeting with secretaries from ministries responsible for implementing the current fiscal year’s budget.
The meeting, chaired by Wagle, was attended by National Planning Commission Vice-Chairperson Dr. Gunakar Bhatt, Finance Secretary Dr. Ghanshyam Upadhyay and secretaries from ministries including infrastructure, industry and commerce, agriculture, health, education, foreign affairs, culture, tourism and civil aviation, labour, women and children, home affairs and defence. Representatives from the Prime Minister’s Office were not present.
Series of economic consultations without finance minister
In recent days, Prime Minister Shah has held multiple discussions with government officials and private sector representatives on economic matters without including Finance Minister Wagle.
Earlier, Shah met representatives of major industrial and business organisations, with lawmaker Bidushi Rana participating in the discussion. He later held talks with Nepal Rastra Bank Governor Prof. Dr. Bishwo Poudel. Wagle was not included in either meeting.
Growing tension between PM and Finance Minister
The developments have further highlighted reports of strained relations between Prime Minister Shah and Finance Minister Wagle , which had reportedly been a matter of discussion since the formation of the government.
Amid growing speculation over their relationship, Rastriya Swatantra Party Chairperson Rabi Lamichhane and Finance Minister Wagle held a residential discussion at Dusit Thani Resort in Dhulikhel, Kavre, on Saturday and Sunday.
Although details of the meeting have not been made public by either side, sources close to the discussions said the talks were related to tensions between the Prime Minister and Finance Minister.
However, Monday’s separate meetings by the Prime Minister and Finance Minister have raised further questions about coordination within the government’s economic decision-making process.
Comment