FinMin Khatiwada named IBN vice chairman

Published On: June 11, 2018 03:00 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 11: Prime Minister Khadga Prasad Oli has appointed Minister for Finance Yuba Raj Khatiwada as the vice chairman of Investment Board Nepal (IBN).

Khatiwada was named as the vice chairman of the entity responsible for implementing mega infrastructure projects, including hydropower projects, on Friday.

The appointment has been made as per Investment Board Act 2011, according to a statement issued by IBN.

It is not immediately clear whether Prime Minister Oli wants Khatiwada, who was picked for the post of finance minister sidelining several aspirants within the then CPN-UML party, to play a major role in the powerful entity which can been tasked to bring foreign investments in mega projects.

IBN has been criticized for slow work pace in recent months. Also, it has very few projects ready for implementation. Resistance from line ministries to hand over mega projects to it is one of reasons behind this, sources say.

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