In a significant move toward transparency and public accountability, the Office of the Prime Minister and Council of Ministers recently made the property details of Prime Minister Balendra (Balen) Shah and his cabinet members public.
From vast ancestral lands to earnings from digital platforms like YouTube and Spotify, the disclosures offer a rare glimpse into the financial backgrounds of Nepal’s top leaders. Here is a detailed breakdown of the assets held by the key figures in the current government.
1. Prime Minister Balendra (Balen) Shah
Prime Minister Balen Shah’s declaration reflects a mix of traditional ancestral wealth and modern digital income.
- Land: His mother, Dhruva Devi Shah, owns 5 Ana in Kathmandu and 1.2 Bigha in Dhanusha. His father, Ram Narayan Shah, holds a substantial 9 Bigha of land in Mahottari.
- Gold: He reported 190 tolas of gold belonging to his wife, Sabina Shah, sourced primarily through ancestral heritage.
- Bank Balance: Approx. NPR 1.46 Crore across various accounts.
- Digital Assets: Interestingly, the PM listed his social media following on Facebook, YouTube, and X (formerly Twitter) as assets. He cited Facebook, YouTube, and Spotify as significant sources of his income.
2. Finance Minister Swarnim Wagle
The economist-turned-politician holds diverse assets, including international investments and significant real estate.
- Real Estate: Owns an apartment in Sanepa (valued at NPR 2 Crore), a house in Bhaisepati (NPR 5 Crore), an apartment in Dhulikhel (NPR 3.75 Crore), and property in Bandipur. He also holds land in Gorkha, Tanahun, and Chitwan.
- Gold: 45 Tolas.
- Cash & Shares: Bank balances totaling NPR 1.90 Crore. He holds millions in shares in companies like Sanima Middle Tamor Hydro, National Fund Management, and Upper Madi Khola.
- Debt: Reported personal and bank loans totaling over NPR 4 Crore, though some have been settled.
3. Foreign Minister Shishir Khanal
Minister Khanal’s wealth is largely rooted in ancestral property and private sector investments.
- Land: Inherited property including a house in Tokha (Kathmandu), 15 Ropani in Tanahun, 13 Ropani in Nawalpur, and 3 Katha in Nepalgunj.
- Valuables: 22 Tolas of gold and 25 Tolas of silver.
- Business Interests: Shares in various companies including Pick & Drop Nepal, Rigpa International, and Taja Agro Farm.
4. Home Minister Sudan Gurung
- Land: 19 Ropani in Dhankuta and 30 Katha in Chitwan under his father’s name. His family holds a massive 221 Ropani of ancestral land.
- Valuables: 89 Tolas of gold and 6 kg of silver (ancestral).
- Cash & Shares: Over NPR 60 Lakh in bank deposits and NPR 30 Lakh worth of shares in Hope Holdings Pvt. Ltd.
5. Industry & Commerce Minister Gauri Kumari Yadav
Minister Yadav appears to be one of the wealthier members regarding real estate and liquid assets.
- Real Estate: A 3-story house in Kathmandu (Ward 9) and multiple plots in Ward 10. She also holds over 6 Bigha of land in Bardibas and a pond in Manra Shiswa.
- Valuables: A significant 180 Tolas of gold and 2 kg of silver.
- Shares: Reported stock market investments valued at NPR 3.38 Crore.
6. Health Minister Nisha Mehta
- Land: Owns 7 Ana in Saukhel, Kirtipur, while other properties remain under her in-laws’ names.
- Valuables: 30 Tolas of gold and 50 Tolas of silver.
- Bank Balance: Approximately NPR 17 Lakh.
Key Takeaways from the Disclosure
- Ancestral Wealth: A majority of the ministers cited “ancestral property” (inheritance) as the primary source of their land and gold.
- The “Digital” Shift: Prime Minister Balen Shah’s inclusion of social media followers and streaming income marks a modern shift in how public officials categorize influence and earnings.
- High Gold Holdings: Large quantities of gold (ranging from 20 to 190 tolas) remain a common trend among Nepali political families.
Why this matters: Public disclosure of assets is a mandatory practice intended to curb corruption and allow citizens to monitor the wealth accumulation of their leaders during their time in office.