Pan Number Missing in Wealth Disclosures of Several Ministers Raises Transparency Concerns

Following a news review, the outgoing Finance Minister Rameshwar Khanal emphasized that income statements and tax clearance records serve as the most reliable foundation for assessing financial integrity. However, the wealth disclosures of half a dozen ministers recently made public revealed the absence of Permanent Account Numbers (PAN), a key requirement for transparency in the tax system. Despite having assets worth crores, these ministers did not provide their PAN numbers, a matter senior tax officials find serious. Kathmandu, March 30.

After the disclosure of assets belonging to the Prime Minister and cabinet ministers, former Finance Minister Rameshwar Khanal posted on Facebook stating, “Wealth declarations are generally unreliable. Instead, income statements and tax payment records submitted to the Inland Revenue Department provide a transparent, credible, and authentic basis for evaluating one’s financial integrity.”

Surprisingly, several ministers whose wealth statements were made public on Sunday did not reveal their PAN numbers. The PAN has been mandatory for all formal financial transactions and payments for the past seven years. Yet, these ministers, who own crores worth of assets including property, gold, and shares, lacked PAN numbers, which senior tax officials consider a serious issue.

Only through the PAN can it be clearly seen how much tax an individual has paid. Officials speculate that although some ministers may have PAN numbers, they chose not to disclose them. A senior official suggested, “They might have withheld their PAN to avoid transparency regarding their tax payments and transactions.”

For instance, Physical Infrastructure and Transport Minister Sunil Lamsal’s disclosed assets show no PAN number. His declaration includes 30 tola of gold, 50 tola of silver, and Rs 90 lakh in cash across bank accounts. Federal Affairs and General Administration Minister Pratibha Rawal also failed to provide a PAN number in her disclosure. She owns land in Kathmandu and Bara districts and attributes her income to her husband. Her assets include 25 tola of gold and more than Rs 24 lakh in various bank accounts. She has also applied for IPO shares of multiple companies.

Health, Population and Drinking Water Minister Nisha Mehta’s transactions also appear without a PAN number. Her assets, held in Kathmandu, include land registered in her name, 30 tola of gold, 50 tola of silver, multiple bank accounts, cash reserves, and shares. Education, Science and Technology Ministry official Sasmit Pokharel, whose father is a former Nepal Rastra Bank employee, declared assets exceeding Rs 24 crore, mostly derived from her father’s income. Yet, her PAN number is missing. Given that PAN is mandatory for all banking operations, her lack of PAN indicates that her transactions are outside the tax system.

Similarly, Industry Minister Gaurikumari Yadav’s wealth declarations do not reflect her presence in the tax system. She owns a house in Kathmandu, land in various locations, 180 tola of gold, 2 kilograms of silver, and diamonds but did not disclose her PAN number. Labour, Employment and Social Security Minister Ramji Yadav also failed to mention his PAN number in his wealth statement. His assets include land across multiple locations, 80 tola of gold, 150 tola of silver, and cash exceeding Rs 70 lakh in bank accounts.