KATHMANDU: Although the responsibility of shortlisting three candidates for the post of Governor of Nepal Rastra Bank lies with the recommendation committee led by Deputy Prime Minister and Finance Minister Bishnu Paudel, the final decision seems to have been made politically.
For over a month and a half since former Governor Maha Prasad Adhikari’s departure on April 5, the ruling parties—Nepali Congress and CPN-UML—have engaged in intense political maneuvering rather than following institutional procedures.
After back-to-back discussions on Monday and Tuesday between Prime Minister KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba, both leaders have agreed to appoint economist Dr. Biswo Paudel as the next Governor. Paudel, who lost the 2022 parliamentary election, is a former Vice Chair of the National Planning Commission.
Prime Minister Oli reportedly accepted Deuba’s proposal to appoint Paudel under the Congress quota.
Following their agreement on Tuesday morning, the recommendation committee, led by Finance Minister Paudel, convened a meeting at Singha Durbar. This meeting is expected to formally propose three names for the Governor position, including Dr. Paudel.
Other members of the recommendation committee include former Governor Maha Prasad Adhikari and Poshraj Pandey, who was recently appointed to the committee after Paudel resigned from his previous position in the same panel to pursue the Governor role.
The Cabinet is expected to endorse Paudel’s appointment in its meeting on Tuesday evening, based on the committee’s recommendation.
Earlier, Oli and Deuba had agreed on Gunakar Bhatta, who resigned as Executive Director of Nepal Rastra Bank, but the decision fell through amid lobbying and influence from intermediaries. Other names previously floated included acting Governor Neelam Dhungana and former Nabil Bank CEO Gyanendra Dhungana.
The delay was not only due to disagreements between the two parties but also due to strong lobbying efforts from various intermediaries. Foreign
Minister Dr. Arzu Deuba was also reported to have pushed for her preferred candidate. After weeks of back-and-forth and controversy, the two major parties have finally reached a conclusion.
Comment