From Finance Secretary to Finance Minister: The Story of Rameshore Khanal’s Determined Journey

In one of the most sensitive moments for Nepal’s fragile economy, Prime Minister Sushila Karki appointed former Finance Secretary Rameshore Khanal as the country’s new Finance Minister. With the economy in deep crisis, his appointment has drawn both attention and expectation. Known for his integrity, firm stance, and rational decision-making, Khanal enters the cabinet as one of the most experienced technocrats in public finance.

Early Life and Education

Born on June 16, 1956 (Ashar 2, 2013 BS) in Tansen, Palpa, Khanal showed academic brilliance from a young age. He once enrolled in three grades at once, just 17 days before exams, and still came first. Throughout school and university, he consistently ranked among the top students. Raised in a disciplined household, he combined studies with daily chores—feeding and milking buffaloes, cutting grass, and cooking for the family. His early life instilled in him discipline, hard work, and a sense of responsibility.

Entry into Civil Service

In 1980 (2037 BS), at just 23, Khanal entered Nepal’s civil service as a cooperative officer through the Public Service Commission. His first posting was in Nepalgunj as head of the District Cooperative Development Office. During his tenure, he even joined border talks with India alongside the Chief District Officer.

With little budget available, Khanal famously used a bicycle for monitoring visits, personally bringing dishonest traders back to the district headquarters when necessary. He spent almost 16 years in the cooperative sector before moving on to the Office of the Auditor General and, eventually, the Ministry of Finance in 2002 (2059 BS).

A Tough Secretary

Khanal’s career as Finance Secretary was marked by firmness and independence.

• Electricity Authority dispute: When pressured to make 800 contractual employees permanent, Khanal refused. “Even if the Authority shuts down, I will not approve permanency,” he said. The Authority never closed, and his decision is still remembered.

• Stock market incident: Once, investors halted all trading to pressure the government. When they went to the Finance Ministry, Khanal stood firm—“I won’t negotiate until you reopen trading.” After a week, the investors relented, reopened the market, and only then sat for talks.

• Nepal Rastra Bank protest: Daily-wage staff at the central bank locked the Governor and Deputy Governor inside the office. As a board member, Khanal refused to hold discussions, insisting, “No talks until the sit-in ends.” After two months, the workers abandoned the protest.

Such cases reinforced his image as a tough, rational decision-maker, one who prioritized principles over popularity.

Integrity and Clean Image

Throughout his career, Khanal never misused public office for personal gain.

• He warned subordinates: “If anyone uses my name to collect bribes, I won’t tolerate it.”

• He rejected politically influenced transfers and promotions.

• To corrupt staff, he once said bluntly: “Because of your habits, I’ll block your career not only in this life but in the next.”

These practices gave him the reputation of a strict but honest bureaucrat.

An Intellectual Personality

Khanal was also known for his intellectual curiosity. In public forums, he often understood new issues faster than others. While waiting for his turn to speak, he would quickly research topics on his mobile or iPad. Colleagues often described him not as someone who needed to “learn” from such events but as someone who came to “teach.”

Political Connection and Independence

Khanal once entered politics through the Nepali Congress, but he never compromised his integrity for partisan interests. He openly praised liberal leaders from rival parties and maintained independence in judgment. This gave him a unique identity—a bureaucrat with political ties but unwavering personal principles.

Delayed Promotion, Stronger Legacy

Despite excellent performance, Khanal was promoted to Secretary later than many of his peers. Those who joined service after him reached secretary earlier and retired before him. The reason was simple: Khanal refused to curry political favor. This delay, however, only strengthened his reputation as an uncompromising civil servant.

Challenges as Finance Minister

Today, as Finance Minister, Khanal faces immense challenges:

• Rising unemployment.

• Capital flight and declining investment.

• Weak production sectors.

• Complex and burdensome tax structures.

Yet his past record inspires hope. Many expect him to simplify investment procedures, reform taxation, encourage entrepreneurship, and create jobs for the country’s restless youth.

Rameshore Khanal’s story is more than a personal biography—it is a mirror of Nepal’s administrative culture.

• His firm stances show that systemic reform is possible.

• His integrity proves that public office need not be a source of personal gain.

• His intellectual approach demonstrates that policy can be rooted in knowledge and reason.

The key question now is whether he can carry the same firmness and honesty into his new political role as Finance Minister. If he does, Khanal’s tenure may mark not just his personal success but the beginning of Nepal’s economic revival.