KATHMANDU, APRIL 20
Home Minister Sudan Gurung has dismissed allegations that he concealed share investments worth Rs 2.5 million from his official property declaration, saying all his stock market investments - exceeding Rs 20 million - are clearly listed in his property details, publicly available on the Council of Ministers' website.
Gurung said the controversy stems from a misunderstanding of how shares are classified. His investments in Star Micro Insurance and Liberty Micro Life, he clarified, fall under the same share category as his other stock market holdings and are included accordingly in his declaration. "Someone who intends to hide assets does not openly declare over Rs 20 million in investments," he said.
On the source of the funds, Gurung said the investment was made through a loan, with a written agreement dated September 15, 2023 on record. All transactions were conducted through banking channels and are fully traceable, he said, adding that the paper trail leaves no room for ambiguity about the origin of the funds.
Responding to allegations of conflict of interest arising from shareholding in a company alongside individuals described as controversial, Gurung noted that a single company can have hundreds or thousands of shareholders, and that holding shares in the same company does not constitute a partnership with every other shareholder. He pointed out that media houses and banks also hold investments in the same company.
On the question of jurisdiction, Gurung clarified that conflict of interest matters of this nature fall under the Department of Money Laundering Investigation under the Finance Ministry, not the Home Ministry, and that the relevant process is already under way. He said the fact that the investigation is proceeding independently is itself evidence that he has not sought to interfere.
Gurung acknowledged that not all risks in commercial investment can be foreseen, and said it was unfair to judge earlier decisions on the basis of events that occurred later. He added that he had chosen not to respond hastily given the legally sensitive nature of the matter, noting that rumours travel fast but truth requires evidence.
He said he would fully comply with any decision his party takes on the matter and is prepared to cooperate with the investigation as required.
