Finance Minister Wagle targets 15 laws for overhaul

By A Staff Reporter,Kathmandu, Mar. 28:  Newly appointed Finance Minister Dr. Swarnim Wagle has decided to repeal 15 laws and acts, including the Department of Revenue Investigation.   

Finance Minister (FM) Wagle made the decision while assuming office after taking the oath of office and secrecy on Friday.

He has decided to repeal 15 laws and acts related to the Department of Revenue Investigation, as recommended in the report of the High-Level Economic Reforms Suggestion Commission 2081.

Similarly, he has also decided to immediately prepare a 100-day, half-yearly and annual action plan for the implementation of the election promise, preparing a financial status report as of March 26, 2026.

It has also been decided to create a roadmap for comprehensive economic and legal reforms, prioritising new bills or their amendments, including private enterprise business protection and promotion and facilitation of large development projects.

FM Dr. Wagle said that a policy would be adopted to solve the problems seen in the economy holistically, not piecemeal, and that systemic reforms would be implemented by removing discretionary powers. 

He has outlined a strong reform agenda, emphasising economic restructuring, good governance, and strict action against corruption, backed by what he described as a historic public mandate.

"We have come with an important economic and political mandate. Economic transformation will not happen through regular processes, we have come to disrupt the order for it'," he said. 

"There is no compromise for good governance and working for the benefit of the people. Those who do good work always get support. However, if the country is not on the track we want and is on the wrong path, I cannot love it. If you are good, you are my friends," he said.

He said that good governance, economic transformation, long-term planning and transformational planning will be done as interventions, connecting the diaspora with the Nepali economy. 

"We will protect their investment and property by saying that once a Nepali, always a Nepali. Then foreign investment will come," he said.

He informed that the implementation of the recommendations of the Public Expenditure Review Commission, growth of domestic production, job creation, and formulation of a transformative budget would be prioritised.

FM Dr. Wagle said that the efforts to promote e-governance and move towards a 'paperless' and 'cashless' system have been initiated by the Ministry of Finance. 

He also said that the current international situation, especially the problems seen in the Middle East region, will be analysed in detail and its impact will be managed through inter-agency coordination.

Meanwhile, according to our Tanahun correspondent, with Dr. Wagle's appointment as Finance Minister, happiness has spread throughout the district. He was elected from Tanahun in the March 5 elections. 

Local residents expressed pride that a leader representing their district has taken on the responsibility of managing the country's economy.

Rajan Panta, a resident of Deurali, Vyas Municipality–12, expressed his happiness that the leadership elected by the people with an agenda of development, good governance, and economic reform has now reached the Ministry of Finance today. 

He expressed the confidence that the stalled work on the Bhanubhakta Zoological Park, which has been neglected for the past eight years, would now gain momentum. 

He said that although there was hope that locals would get employment opportunities through ecotourism, it was difficult to move forward with the work of the park due to politicisation, but now there is hope that it will move forward. 

Panta added that locals had hoped for employment, yet neither compensation nor land ownership documents had been received, but they now believe the deadlock will be resolved. 

Although it was determined that they would receive compensation of Rs. 460 million, they have not been received by the lack of budget release.

Bishwo Nath Bastola, District Chairperson of the Rastriya Swatantra Party in Tanahun, recalled that Party Chairperson Rabi Lamichhane had already announced before the election that Wagle would become Finance Minister and had prepared the budget accordingly. 

Bastola expressed confidence that the district’s economy would return to rhythm, saying, “Having a person with experience in economics and policy as Finance Minister is a positive message for the country. This is a proud moment for the people of Tanahun.”

Anju Dahal, Secretary of Vyas Municipality for the Rastriya Swatantra Party, said that the appointment of an experienced leader as Finance Minister has increased hopes for the country’s economic improvement. 

Dahal added, “Now, the voice of Tanahun has directly reached the Ministry of Finance; there is no limit to our happiness.”

Dr. Wagle, who has experience working at policy levels both domestically and abroad, previously served as a member and vice-chairperson of the National Planning Commission, contributing to development planning and economic reforms. 

After assuming the responsibility of Finance Minister, he said that he would prioritise good governance, economic reform, and quality infrastructure development.

Born in 2031 BS in Gorkha, Wagle has received higher education in economics and public policy. 

He was first elected to the House of Representatives through a by-election in 2080 BS. In the parliamentary election held on March 5, he received 38,040 votes, defeating his closest competitor, Govinda Bhattarai of the Nepali Congress, by a margin of 21,809 votes.