. Prime Minister Balendra Shah held a meeting with industrialists and entrepreneurs on July 24. The industrialists and businessmen, who have been disappointed for a long time, were excited to hold direct talks with the Prime Minister.

Finance Minister Dr. Baburam Bhattarai is in the government led by the Rastriya Swatantra Party (RSP).TAG_OPEN_p_44 Representatives of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) put forth their concerns before the Prime Minister.

They suggested the work to be done by the government for the private sector in the coming days, presented their demands and informed them about the problems being faced in the operation of business. They also shared their views on industry, business, investment environment and economic reforms.

However, in such an important meeting, the chief of the Ministry of Finance and Finance Minister Dr.TAG_OPEN_p_42 Swarnim Wagle was not present.

The Ministry TAG_OPEN_p_41 of Finance is the main body to convey the demands of the private sector to the government and to inform the industrialists and businessmen about the government’s official position. Therefore, even the private sector has seen the absence of the Finance Minister in such an important meeting with industrialists and businessmen as a surprise.

Some people have started interpreting this as a sign that the prime minister does not trust the finance minister or that the distance between the prime minister and the finance minister has increased.TAG_OPEN_p_40 The question that is being raised in various circles now is this: Has the distance between the Prime Minister and the Finance Minister really increased?

Where TAG_OPEN_p_39 was the expert Finance Minister when the Prime Minister called the industrialists and businessmen to the Office of the Prime Minister and Council of Ministers and held detailed discussions on the issues of making the country’s economic activities dynamic, facilitating the operation of industry and business, creating investment-friendly environment, removing policy and procedural hurdles, boosting the morale of the private sector and increasing employment generation and production?

Stating that the private sector was an important partner of the government in the country’TAG_OPEN_p_38 s economic development, investment expansion, job creation and production increase, why did the Finance Minister not come to witness the government when he assured that the government was ready to address the practical problems of the industrialists and entrepreneurs?

Where TAG_OPEN_p_37 was the Finance Minister when he pledged to prioritise policy, legal and administrative reforms to create a friendly environment for industry and private sector?

Why TAG_OPEN_p_36 was the Finance Minister not present to listen to the suggestions of the Prime Minister on the issues raised by the private sector from time to time through the Finance Ministry but which could not be implemented—industry-business promotion, investment expansion, policy stability, ease of service delivery and the need for regular and result-oriented dialogue between the government and private sector?

The Prime Minister assured that necessary reforms and facilitation would be forwarded through the concerned bodies taking the suggestions received from the private sector seriously.TAG_OPEN_p_35 He said the government would move ahead collaborating with the private sector in the campaign of economic reforms.

The absence of the Finance Minister in such an important meeting has raised the question of whether the Finance Ministry is being run from the Prime Minister’s Office as the main responsibility of economic reform lies with the Finance Ministry.TAG_OPEN_p_34 At the same time, there is a growing discussion that the Prime Minister’s faith in the Finance Minister’s expertise and efficiency has decreased.

Sources claim that this question is now being raised seriously not only in the market but also within the ruling party Rastriya Samajwadi Party.TAG_OPEN_p_33

Prime Minister Balendra Shah and Rastriya Samajwadi Party (RSP) President Rabi Lamichhane held a four-hour-long meeting on Monday.TAG_OPEN_p_32 However, Wagle is considered close to Ravi Lamichhane.

According to sources, the working style of Finance Minister Wagle was also seriously reviewed during the Shah-Lamichhane meeting held on Sunday.TAG_OPEN_p_31

Various developments have indicated that Prime Minister Shah is dissatisfied with Finance Minister Wagle even before the budget was presented.TAG_OPEN_p_30 Although the budget for the coming fiscal year should be prepared through the Ministry of Finance, Prime Minister Shah, during a meeting with lawmakers from different provinces, urged them to send the suggestions related to the budget to his own secretariat. According to sources, the Prime Minister’s dissatisfaction is also reflected in his recent meetings with the representatives of the private sector.

According to sources, Prime Minister Shah is not satisfied with Finance Minister Wagle’s performance.TAG_OPEN_p_29 Shah and Wagle are said to have different views on issues such as the BYD car case, the budget, the stock market and foreign loans. Despite the powerful government of the same party, there is talk that the expected coordination between the Prime Minister and the Finance Minister has not been seen.

In Nepal, the stock market is often associated with the success or failure of the government.TAG_OPEN_p_28 Many economists describe it as a mirror of the economy. But the stock market, which was about 2950 points at the time of the formation of this government, has fallen by about 380 points to 2570 points in a period of three and a half months.

Despite having such a powerful government, investors are not convinced of the market.

Shah, who had supported the agitation of stock investor Tilak Koirala when he was the mayor of Kathmandu Metropolitan City, is said to be not satisfied with the situation in which the market has fallen drastically within three and a half months of assuming the leadership of the country.TAG_OPEN_p_26 Investors’ wealth worth billions of rupees has decreased due to the fall in the market.

Sources claim that the Finance Minister is also dissatisfied with the Finance Minister’s focus on foreign loans rather than domestic capital formation, the failure to take policy initiatives to stimulate the economy and the failure to bring the budget accordingly.TAG_OPEN_p_25

On the orders of the secretariat of Prime Minister Shah, who also holds the charge of the Ministry of Home Affairs, he had directed to investigate 779 vehicles of BYD.TAG_OPEN_p_24 The government had formed a committee on June 4 to carry out a thorough investigation into the electric vehicles seized by the Armed Police Force (APF) from different places on the suspicion of tax evasion.

Under the direction of the Office of the Prime Minister and Council of Ministers, a joint investigation committee was formed with representatives from the Ministry of Finance, Department of Customs, Nepal Police and Armed Police Force.TAG_OPEN_p_23

The vehicles were later abandoned. Since then, there has been talk of internal differences between Shah and Wagle.