Kathmandu. At present, the process of appointing the governor of Nepal Rastra Bank is very much discussed. The parties in the ruling coalition are discussing in the name of one person after another about who should be the governor.
Recently, such discussions have been stalled in the name of Rastra Bank’s Executive Director Gunakar Bhatta. Nepali Congress President Sher Bahadur Deuba has reached the final homework of gifting the governor’s post to Bhatta. According to reliable sources, he has also been able to get Prime Minister KP Sharma Oli to agree to this.
Deuba has forced Oli, who is trying to create history by making the first woman governor Nilam Dhungana Timsina, to return in bhatta’s name. The supreme court’s recent interim order on the age limit has made it easier for Deuba to make Bhatta the governor.
After the Supreme Court issued an interim order not to appoint those above 65 years of age, the ruling parties were forced to appoint a younger person as governor. Among them, Deuba has chosen Bhatta. Although in a compelling situation, Deuba has seen the situation easier to make Bhatta the governor.
Deuba has also told his leaders that the Prime Minister is positive about making Bhatta the governor. Deuba is confident that bhatta will be made governor in the next cabinet meeting if no other situation is created.
Acting Governor Nilam Dhungana, Executive Director Bhatta, Rastra Bank Director Rabindra Pandey, former Administrator Rajendra Kishor Chhetri, banker Gyanendra Dhungana, among others, are in the news for the post of governor. After the Supreme Court issued an interim order not to appoint those above 65 years of age, the ruling parties were forced to appoint a younger person as governor. As a result, Ghimire, Chhetri and others have been out of the governor’s radar.
Although Deuba and Oli have reached an agreement to appoint Gunakar Bhatta as governor, legal experts have said that if that happens, it will be against the spirit of the Rastra Bank Act. They said that the practice of appointing an employee below the rank of deputy governor as governor raises questions about the dignity and impartiality of the institution.
The amended version of the Nepal Rastra Bank Act, 2058 also has a clear provision regarding the appointment of governors. Sub-section 3 of Section 15 of the Act states, “The committee constituted pursuant to Sub-section 2 shall recommend to the Government of Nepal and the Council of Ministers the names of three eminent persons and deputy governors in the fields of economic, monetary, banking, financial, commerce and commerce law while recommending for the appointment of governors.” ’
Legal experts argue that there is no mention of the incumbent executive director becoming the governor.
