Kathmandu, Sept. 15 -- Rameshore Khanal, a former finance secretary and economist, has formally assumed office as Nepal's new finance minister in the interim government formed after the Gen Z movement.

Immediately after taking his oath of office and secrecy from President Ramchandra Paudel on Monday, he headed straight to the ministry of finance to begin work.

In his first remarks as minister, Khanal announced that the poorly prepared and fragmented projects would be scrapped, and strict measures would be introduced to control wasteful spending.

"We cannot afford to move ahead with unready projects. Every rupee must be spent responsibly," he said, signalling a return to financial discipline.

The symbolism of his appointment has not go...