KATHMANDU, March 3: Finance Minister Yubaraj Khatiwada has stepped down from the post on Tuesday.
Khatiwada's resignation comes couple of hours before his term as National Assembly member is expiring. Khatiwada is likely to be re-appointed as the member of the National Assembly upon the recommendation of the Council of Ministers. Later on, President Bhandari will re-appoint him as the finance minister upon the recommendation of PM KP Sharma Oli in line with the Article 78 of the Constitution.
In a press statement, President's Office today stated that Khatiwada has tendered his resignation.
Other NA lawmakers whose terms are expiring tonight include Sarita Prasain, Surendra Raj Pandey, Haricharan Shiwakoti, Ramprit Paswan, Binda Devi Ale, Brishesh Chandra Lal, Badri Prasad Pandey, Balaram Baskota, Mina Budha, Mukta Kumari Yadav, Youtol Tamang, Ramesh Prasad Yadav, Durga Prasad Upadhyay, Dhan Kumari Khatiwada, Kamala Kumari Ale, Kali Bahadur Malla and Khem Raj Nepal. Their tenure was decided through lucky draw.
As per Article 86 (3) of the constitution, only one third (ie 20) of the NA members get to serve full term of six years. The remaining one third (20) NA members will be stepping down upon the completion of their four-year terms.