Janardan Sharma re-appointed Finance Minister and assumes office

Kathmandu: President Bidya Devi Bhandari Sunday has, on the recommendation of Prime Minister Sher Bahadur Deuba, appointed Janardan Sharma as the Finance Minister.    
According to the Office of the President, Sharma was appointed the member in the existing Council of Ministers that was formed on July 13, 2021 under the leadership of PM Deuba, in accordance with the Article 76 of the Constitution.    
Following reports about 'altering' tax rates through the involvement of 'unauthorised' persons in budget making, Sharma resigned as Finance Minister on July 6.    
The parliamentary committee formed to probe the case however submitted the report to the Parliament reporting no evidences found that supported involvement of unauthorised persons in the budget preparation.    

Sharma has also assumed his office this evening after taking the oath of office and secrecy. Assuming the office, Minister Sharma said he would work for the revitalization 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 revitalized. 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.    
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 in the budget making process.    
The parliamentary special committee formed to probe the issue had submitted its report on Friday, concluding that there was no clue on entry of unauthorised persons in the Ministry during the budget making process.    
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