Prakash Chandra Lohani () (born 21 April 1944) is a

Nepal Nepal, officially the Federal Democratic Republic of Nepal, is a landlocked country in South Asia. It is mainly situated in the Himalayas, but also includes parts of the Indo-Gangetic Plain. It borders the Tibet Autonomous Region of China Ch ...

ese politician,

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

and member of the ARPPR. He has served as a

Minister of Finance A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfolio ...

, Minister of Foreign Affairs, Minister of Agriculture, Minister of Labour & Transportation, and Minister of Housing & Physical Planning in governments formed during the panchayat era and in governments formed after the restoration of multi-party democracy. He has also served as an acting prime minister of Nepal.

Career

Lohani was appointed Minister of Finance of Nepal in July 1983 and June 2003. During his tenure as the Finance Minister, for the first time in Nepal, he initiated the process of financial liberalization by introducing policies in favor of

privatization Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation w ...

of public enterprises. Growth in Nepal's financial market, especially the emergence of banking sectors, financial institutions can be attributed to the policies enacted by him during his tenure as a finance minister. Nepal's first joint venture backed bank, Nepal Arab Bank Limited (now

Nabil Bank Nabil Bank, (; formerly known as Nepal Arab Bank Limited, is the first foreign joint venture commercial bank in Nepal, established in 1984. It provides a wide range of commercial banking services, including branch banking, treasury, trade, ca ...

), was established during his tenure. Lohani along with his love toward politics, has a keen interest in finance and economics. He has shared his ideas and views at various national and international forums such

Woodrow Wilson International Center for Scholars The Woodrow Wilson International Center for Scholars (WWICS) or Wilson Center is a Washington, D.C.–based think tank A think tank, or public policy institute, is a research institute that performs research and advocacy concerning topi ...

in Washington, DC, (chairman) 41st session of the ESCAP in Bangkok and (chairman) Nepal Aid Group meeting in 2004. Lohani has also published papers in prestigious journals like the

University of Chicago The University of Chicago (UChicago, Chicago, or UChi) is a Private university, private research university in Chicago, Illinois, United States. Its main campus is in the Hyde Park, Chicago, Hyde Park neighborhood on Chicago's South Side, Chic ...

Journal of Political Economy The ''Journal of Political Economy'' is a monthly peer-reviewed academic journal published by the University of Chicago Press. Established by James Laurence Laughlin in 1892, it covers both theoretical and empirical economics. In the past, the ...

''. He was a

Fulbright scholar The Fulbright Program, including the Fulbright–Hays Program, is one of several United States cultural exchange programs with the goal of improving intercultural relations, cultural diplomacy, and intercultural competence between the peopl ...

who taught as an assistant professor of finance at the

California State University, Northridge California State University, Northridge (CSUN or Cal State Northridge), is a public university in the Northridge neighborhood of Los Angeles, California, United States. With a total enrollment of 36,848 students (as of Fall 2024), it has the ...

, California, US (1968–1969). Lohani has an MBA degree from

Indiana University Indiana University (IU) is a state university system, system of Public university, public universities in the U.S. state of Indiana. The system has two core campuses, five regional campuses, and two regional centers under the administration o ...

and PhD from

University of California Los Angeles The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California, United States. Its academic roots were established in 1881 as a normal school then known as the southern branch of the Cal ...

(UCLA). Lohani was a member of Nepal's historic erstwhile

Constituent Assembly A constituent assembly (also known as a constitutional convention, constitutional congress, or constitutional assembly) is a body assembled for the purpose of drafting or revising a constitution. Members of a constituent assembly may be elected b ...

, which had been tasked with drafting a new constitution. At present Lohani is the chairman of the Rastriya Prajatantra Party.

References

Sources

* * * 1944 births Living people Indiana University alumni Nepalese economists University of California, Los Angeles alumni Ministers of finance of Nepal Government ministers of Nepal Rastriya Janashakti Party politicians Rastriya Prajatantra Party politicians Ministers of foreign affairs of Nepal Members of the Rastriya Panchayat Nepal MPs 1991–1994 Nepal MPs 1994–1999 {{Nepal-politician-stub Members of the 1st Nepalese Constituent Assembly