Mahat has been active in Nepali politics since his student years. During the Panchayat era he participated in pro democracy student movements. He later joined the Nepali Congress and became involved in party organisation and policy work.[citation needed]
Mahat served as Minister of Energy from 2010 to 2011. Contemporary reporting during his tenure discusses the 456 MW Upper Tamakoshi Hydropower Project in the context of government energy policy and load shedding reduction plans.[8] The Nepal Electricity Authority annual report for fiscal year 2009 to 2010 lists him as Minister for Energy and Chair of the Authority in its introductory pages.[9]
As Minister of Foreign Affairs,Mahat led Nepal’s delegation to the 71st session of the United Nations General Assembly and delivered Nepal’s statement in New York in September 2016.[10][11]
Mahat was appointed Minister of Finance on 31 March 2023.[12] Reporting at the time described the appointment as occurring amid financial strain and low private sector confidence,and noted that he formed a task force to manage government cash flow.[13]
In the budget speech for fiscal year 2080/81,the Ministry of Finance published the official budget statement delivered by Mahat in May 2023. The statement sets out budget size and spending priorities for that fiscal year.[14]
Mahat left office on 4 March 2024 amid a change in coalition arrangements,with Reuters reporting that Prime Minister Pushpa Kamal Dahal intended to remove several ministers including Mahat.[15] The Kathmandu Post also reported on Dahal’s preparations for a cabinet reshuffle that included the finance portfolio in early March 2024.[16]
Mahat has been associated with academic and policy discussions on economic development,governance,and Nepal’s peace process. He has also spoken publicly about economic conditions during his tenure as finance minister.[17]
Personal life
Mahat is married to Bina Mahat,and they have two children.[18]
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