The news discusses the increasing speculation about a potential change in the Finance Minister and the share market’s reactions and expectations regarding this possibility.
There are strong talks in political circles about Prime Minister Balen Shah preparing for a cabinet reshuffle. This has led to intense speculation that Finance Minister Dr. Swarnim Wagle’s position might also be at risk. A meeting between the Prime Minister and Rabi Lamichhane, the chairman of the Rastriya Swatantra Party (RSP), along with growing dissatisfaction within the government and questions raised about some ministers’ performance, have brought this issue into the spotlight.
Previously, Labor Minister Deepak Kumar Shah was removed after the government was formed, and Home Minister Sudan Gurung faced a suspension before returning to his responsibilities. Against this background, various speculations are now circulating regarding the future of Finance Minister Wagle.
Why Pressure on Swarnim Wagle Increased
Recently, Prime Minister Balen Shah met with industrialists and businesspeople without the direct involvement of the Finance Minister. Following this, separate messages from the Prime Minister’s Office and the Finance Minister’s Secretariat regarding the share market and the economy were made public, which was seen as a sign of weak coordination within the government.
Furthermore, criticism of the Finance Minister’s work style has grown due to issues like the lack of expected improvements after the budget, new taxes introduced in the education and health sectors, additional taxes on electricity tariffs, and the leakage of information concerning electric vehicle taxes.
Why Removing Him is Not Easy
Politically, the decision to remove Dr. Swarnim Wagle does not appear to be simple.
He is considered one of the main architects in developing the RSP’s economic policies. Even before the party joined the government, he was presented as a future Finance Minister. His role is considered crucial in shaping the party’s policies, economic vision, and manifesto.
Moreover, he is an economist with international experience. His background includes working with various international organizations, knowledge of public finance management, and connections with international bodies, which are all seen as his strong points.
PM Has Authority, But Also Political Challenges
Constitutionally, the Prime Minister has the authority to remove ministers. Since the Prime Minister is primarily responsible for the success or failure of the government, he also holds the right to reshuffle the cabinet if he deems it necessary.
However, changing the Finance Minister would send a political message, affect relations with the RSP, and the question of who to bring in as a replacement also becomes equally important.
What Impact Could it Have on the Share Market?
Among share market investors, there are mixed opinions regarding Dr. Swarnim Wagle’s tenure. Initially, after he held discussions with brokers, the market saw some improvement, but subsequently, it remained under continuous pressure.
Some of the statements he made about the share market were also criticized. However, more recently, the Finance Minister’s Secretariat began sending positive messages targeting investors, and a commitment was also expressed to support the implementation of the reform plan published by the Securities Board of Nepal (SEBON).
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
