Finance Minister Sharma assumes office

KATHMANDU: Newly-appointed Minister for Finance Janardan Sharma assumed his office on Sunday evening after taking the oath of office and secrecy. Assuming the office, Minister Sharma said he would work for the revitalisation of Nepal's economy. Nepal's economy is also affected due to problems seen in the global economy, he viewed. Minister Sharma also shared his plans to work for increasing exports while substituting imports. "Our economy should be revitalised. For this, import substitution, increase in export and reserve of the foreign exchange should be improved," according to Minister Sharma. On the occasion, he pledged to mend the ways in the implementation of the budget for the current fiscal year 2022/23. Likewise, Minister Sharma said he was assured of getting support from the bureaucracy in the implementation of the budget. He has decided to increase the limit of deposit insurance. As per the new provision, the limit of deposit insurance will be Rs 500,000 from Rs 300,000, the Minister shared. Earlier, Sharma had resigned from the post on July 6 by addressing the House of Representatives (HoR) as there were accusations that unauthorised persons had entered the Ministry of Finance during the budget making process. The parliamentary special committee formed to probe the issue submitted its report on Friday, concluding that there was no clue on the entry of unauthorised persons into the Ministry during the budget making process. READ ALSO:

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