Within 17 days of the formation of the new government led by Balendra Shah (Balen), members of the Council of Ministers have made their asset details public.
Although there has long been a demand for transparency in the assets of public office holders, ministers in some previous governments had only submitted their asset details to the government without making them public.
The Rastriya Swatantra Party (RSP) had pledged in its election manifesto to disclose asset details before assuming public office.
In the government’s 100-point action plan, a decision has also been made to investigate the assets of individuals who have held public office since 1990. As the government decided to make even past officials’ assets public, ministers submitted and disclosed their details accordingly.
The Prevention of Corruption Act requires ministers to submit their asset details. However, there is no legal obligation to make those details public. As a result, many past cabinets submitted the details but hesitated to disclose them.
Even after the Gen Z movement, the asset details of ministers in the government led by Sushila Karki were not made public.
A review of the asset disclosures made public on April 12 shows that most ministers are financially well-off, while some fall into a middle-income category. They have disclosed assets ranging from land and houses to shares, gold and silver jewellery, and even livestock. Overall, the personal and family financial status of cabinet members appears strong.
Prime Minister’s main asset: social media
The definition of assets has expanded beyond land, bank balance, and gold and silver. Social media followers are now also being recorded as assets.
Prime Minister Balen has identified social media as his primary source of income in his asset declaration. He has disclosed a bank balance of Rs 14.6 million, with social media listed as the source.
He reported having 4 million followers on Facebook, 1.2 million on YouTube, and 500,000 on X. He does not own land or property in his personal name, although his parents own significant property. He has identified social media as the source of his wealth.
His wife, Sabina Kafle, owns 190 tolas of jewellery, including gold, silver, and diamonds, which is listed as inherited property. His mother owns a house on 5 aana of land in Kathmandu and property in Dhanusha, while his father owns 9 bighas of land in Mahottari. The Prime Minister has not listed any shares.
Home Minister Gurung: 89 tolas of gold, shares worth millions
Home Minister Sudan Gurung owns 89 tolas of gold. He has 19 ropani 15 aana of land in Dhankuta, acquired through investment.
His father, Dil Bahadur Gurung, owns 30 kattha of land in Bharatpur-18, Chitwan, and his grandfather owns 221 ropani in Chumanubri, Gorkha (yet to be partitioned).
Gurung has invested over Rs 43.1 million in the stock market. This includes 30,000 shares in Hope Holdings Pvt. Ltd. worth Rs 3 million, and 5,700 shares in Lagum Premium Apartments Pvt. Ltd. worth Rs 5.7 million.
He has also invested Rs 27.456 million in publicly traded shares and owns 70,000 shares in Adventure Villa Pvt. Ltd. worth Rs 7 million.
Finance Minister Waglé: four houses, substantial bank balance
Finance Minister Swarnim Waglé has disclosed four houses/apartments. Having worked abroad for a long time, he lists that as his main source of income.
His properties include apartments in Sanepa (Rs 20 million), Lalitpur (Rs 50 million), Kavre (Rs 37.5 million), and a house in Tanahun (Rs 20 million). His bank balance stands at Rs 19 million.
He owns 45 tolas of gold accumulated through family and employment income.
He holds promoter shares in Sanima Middle Tamor Hydropower (71,093 units) and Shangrila Development Bank (25,762 units), and has investments of Rs 9 million in National Fund Management Ltd., Rs 6 million in Thulo Lakhola, and Rs 30 million in Upper Madi Hydropower. He also owns a vehicle worth Rs 9.4 million.
He has loans totalling Rs 10.5 million from Global IME Bank and Rs 25 million in personal loans, while previously repaid loans include Rs 3.8 million from Rastriya Banijya Bank and Rs 7.5 million from Standard Chartered Bank.
Foreign Minister Khanal: property in father’s name, shares in own name
Foreign Minister Shishir Khanal’s land and house are in his father Surya Bhakta Khanal’s name, including a 6-aana house in Kathmandu and land in Tanahun, Nawalpur, and Nepalgunj.
He has a bank balance of Rs 1.3 million and owns 22 tolas of gold. He and his wife also hold shares in various companies.
Energy Minister Shrestha: 15 tolas of gold, Rs 6.4 million bank balance
Biraj Bhakta Shrestha owns 15 tolas of gold and 50 tolas of silver, received through inheritance and marriage. His bank balance across different banks is Rs 6.4 million.
He also has investments of Rs 14.5 million in shares and owns a car, scooter, and an electric vehicle.
Law Minister Gautam: Rs 1 million bank balance
Sobita Gautam has houses in Kathmandu and Chitwan under her husband and mother-in-law’s names. Her bank balance is Rs 1.05 million.
She has taken loans from two banks for vehicle purchases and owns 15 tolas of gold, 9 tolas of silver, and 1 tola of diamond.
Minister for Women, Children and Senior Citizens Badi: 18 tolas gold, 20 chickens
Sita Badi has disclosed livestock, including 20 chickens and a dog. She owns a scooter, three laptops, and two mobile phones.
She has Rs 50,000 in cash and Rs 1.5 million in bank savings jointly with her husband. She owns 18 tolas of gold and 15 tolas of silver received during marriage, and land in Surkhet.
Physical Infrastructure Minister Lamsal: Rs 9 million bank balance
Sunil Lamsla has Rs 9 million in the bank, along with 30 tolas of gold and 50 tolas of silver. His family owns land and houses in Rupandehi, Nawalparasi, and Syangja.
Federal Affairs Minister Rawal: land in Kathmandu, income from husband
Pratibha owns land worth Rs 7 million in Budhanilkantha and Rs 5 million in Bara. She has 25 tolas of gold and over Rs 2.4 million in savings, sourced from her husband’s income.
She has also taken a Rs 2 million loan from Everest Bank and owns a car worth Rs 4.4 million.
Education Minister Pokharel: over Rs 200 million in real estate
Sasmit Pokharel has disclosed joint family property worth around Rs 205 million across seven locations. The properties are in Kathmandu, Morang, and Lalitpur.
He owns 25 tolas of gold and 100 tolas of silver, has Rs 447,994 in her bank account, and $5 in a dollar account.
His family has also invested around Rs 3 million in shares and holds significant savings certificates and loans totalling Rs 7.5 million.
His total assets amount to Rs 241.6 million, with liabilities of Rs 7.5 million, leaving net assets of Rs 234.1 million.
Agriculture Minister Gita Chaudhary: 5 tolas gold, modest bank balance
Gita Chaudhary owns a watch worth Rs 50,000, a phone worth Rs 90,000, and a laptop worth Rs 75,000.
She has 5 tolas of gold and 100 tolas of silver, with Rs 126,000 in bank accounts.
She purchased a scooter through a loan and also owns another scooter worth Rs 330,000.
Her assets also include two goats and ten chickens gifted by her maternal family.
