1. Source Data
All individual asset declarations were published on April 12, 2026 by the Office of the Prime Minister and Council of Ministers (OPMCM) via:
- OPMCM official page — primary authoritative source
- Official PDF disclosure document — scanned government document (62 pages)
- OnlineKhabar
- Nepal News
- Ratopati
Where multiple sources were available, figures were cross-checked. Discrepancies are noted in the individual minister's card.
2. Conversion Rates Used
| Rate | Value | Source / Date |
|---|---|---|
| Gold (hallmark, 24-carat) | Rs 296,700 / tola | Hamro Patro — April 13, 2026 |
| Silver | Rs 4,900 / tola | Hamro Patro — April 13, 2026 |
| USD exchange (NPR → USD) | Rs 148.07 / USD (NRB buy rate) | Nepal Rastra Bank — April 13, 2026 |
The NRB buy rate (what banks pay to buy USD) was used for USD conversion, as it is the most stable published rate. The sell rate (slightly higher) was not used.
3. Asset Valuation — Declared vs. Estimated
Ministers' declarations contain figures for some assets and descriptions only for others. We distinguish these clearly:
| Asset type | How valued | Reliability |
|---|---|---|
| Bank balances | Declared exactly (NPR) | High — directly stated |
| Gold (tolas) | tolas × Rs 296,700 (Hamro Patro rate) | Medium — market rate, quality/purity varies |
| Silver (tolas) | tolas × Rs 4,900 | Medium — same caveat as gold |
| Company shares | Declared book value or estimated | Low–Medium — share prices fluctuate |
| Real estate with declared value | Declared amount used directly | Medium — self-assessed, not independently appraised |
| Real estate without declared value | Estimated from size/location | Low — rough estimate; marked 'Estimated' |
| Vehicles with declared value | Declared amount used directly | Medium |
| Vehicles without declared value | Estimated typical market rate | Low — marked 'Estimated' |
| Livestock | Nominal estimate (Rs 2,000–5,000/animal) | Very low monetary value; included for completeness |
4. Family Assets — Important Caveats
Several ministers declared assets held in the names of immediate family members (spouse, parents, in-laws, children). These are shown separately as "Family / Relatives' Assets" on each minister's card.
The family asset values are often estimated because declarations describe properties by area (aana, ropani, bigha) without explicit monetary values. We apply approximate local market rates to convert — these estimates carry significant uncertainty.
Example: PM Balen Shah's wife declared 190 tolas of "gold, silver, and diamond jewellery" as inherited property. We estimate 70% of the value as gold-equivalent because the exact split is not disclosed. The figure is therefore approximate.
5. Wealth vs. Average Income — Detailed Methodology
What figure we use:
| Nepal GNI per capita (FY2024-25) | USD 1,456 / year | Finance Ministry budget speech, May 2024 |
| Source | Kathmandu Post, May 28 2024 | 'Nepal's per capita income sees slight increase' |
| Converted to NPR at NRB rate | Rs 215,590 / year (≈ Rs 216K) | USD 1456 × Rs 148.07 |
| Constant used in calculations | Rs 215,590 / year | This is what divides minister wealth to produce 'years' figure |
What GNI per capita is — and is not:
- GNI (Gross National Income)= total income earned by a country's residents, including income from abroad. For Nepal, this prominently includes remittances, which account for roughly 22–27% of GDP.
- GNI per capita is an arithmetic mean (total ÷ population), not a median. Because of income inequality, the median income is substantially lower than USD 1,456.
- This is gross income — before taxes, food, housing, and other expenses. Disposable income or purchasing-power-adjusted income would be different.
- The figure is from FY2024-25 (Nepal fiscal year ending July 2025), reported in May 2024. Minister wealth is declared April 2026. The GNI may have changed modestly.
- Using a higherincome baseline (e.g., USD 1,456 vs. the Rs 200,000 previously used) makes the "years of income" multiplier smaller — i.e., more conservative and less misleading. The current calculation uses Rs 215,590.
Example calculation (PM Balendra Shah, personal wealth only):
Declared personal assets: Rs 14.6 million (bank savings)
Liabilities: Rs 0
Net personal wealth: Rs 14,600,000
GNI per capita baseline: Rs 215,590/year
Years = Rs 14,600,000 ÷ Rs 215,590 = 68 years
(If family assets included: + Rs 39.5M estimated family property → ~251 years combined)
6. Shares & Company Investments
Share values are taken from declared figures (typically at par or purchase price) unless a current market value was stated. NEPSE-listed shares may have market values significantly different from declared par value. Unlisted/private company shares are valued at declared amount only.
7. What Is Not Included
- Digital accounts / social media: PM Shah listed his social media presence as an income asset. We have not assigned a monetary value to follower counts.
- Government pension entitlements: Future pension rights are not included in declared wealth and are not included here.
- Undisclosed assets: Self-declaration systems rely on honesty. This data reflects only what was voluntarily declared.
- Appreciation since acquisition: If a minister bought land in 2005 and it has tripled in value, the declared value may reflect either acquisition cost or current value — declarations vary.
8. Data Version
| Declaration date | April 12, 2026 (Chaitra 29, 2082 BS) |
| Page published | April 13, 2026 |
| Minister count | 16 (full cabinet) |
| Gold/silver prices | April 13, 2026 (Hamro Patro) |
| USD rate | April 13, 2026 (NRB buy rate) |
| GNI per capita | FY2024-25 (Finance Ministry, May 2024) |