Budget will not hinder government's vision: New Finance Minister Paudel

KATHMANDU: Newly appointed Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, stepped into his role today with a clear message: the budget brought by the previous government will not impede the ambitious goals of the newly-formed government.

After participating in the swearing-in ceremony at the Office of the President, Minister Paudel assumed office at the Ministry of Finance in Singha Durbar, Kathmandu. He expressed confidence that the upcoming fiscal year's budget would not obstruct the government's vision and mission.

Paudel emphasised that any budget-related challenges could be addressed through procedural adjustments. "Legal and constitutional provisions exist to overcome obstacles," he stated. If necessary, the government would pursue an amendment process.

Highlighting the recent formation of a joint government by the two largest parties in parliament, Paudel underscored the message of political stability. He expressed his belief that this stability would gradually resolve the economic issues facing the country.

"Our government aims to dispel despondency and foster hope," Paudel asserted. "We'll prioritise production and employment. I expect all sectors to rally behind these efforts in our changed context." He also expressed a desire for balanced growth in the stock market, considering it a reflection of the overall economy.

In his first official decision, Minister Paudel initiated a study to identify areas for development finance.

Notably, this marks Paudel's third term as Deputy Prime Minister and fourth as Finance Minister. His political journey includes serving as a Member of Parliament since 2051 BS and as a Constituent Assembly member in 2064 BS and 2070 BS. In 2070 BS, he chaired the Constitution Archives Study and Determination Committee.

Paudel's history includes imprisonment during the underground movement from 2035 BS to 2046 BS. He demonstrated resilience by leading a jail revolt on the 45th day of his incarceration.

As a prominent figure within the CPN (UML), Deputy Prime Minister Paudel has actively shaped Nepali politics for four decades. Currently, he holds the position of Vice Chairman within the party.

Born on December 1, 1959, in Syangja district, Paudel is a permanent resident of Butwal Sub-Metropolitan City-8 in Rupandehi district. His current residence is in Lalitpur.