Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Finance Minister Bishnu Prasad Paudel has convened an urgent meeting of the Governor Recommendation Committee on Tuesday afternoon to finalize the appointment of Nepal Rastra Bank’s new governor.
The decision follows high-level talks between Prime Minister KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba, resolving earlier tensions over the selection process. The committee, comprising former governor Mahaprasad Adhikari and economist Dr. Posh Raj Pandey, is expected to meet at the Finance Ministry within hours to discuss the nomination.
The appointment process had been stalled due to disagreements between Oli and Deuba. Oli rejected multiple candidates proposed by Deuba, straining their relationship. On Monday evening, Deuba declined an invitation to discuss the matter at Baluwatar, signaling frustration over Oli’s stance. Initially, Deuba had no plans for further talks on Tuesday.
However, Oli postponed a parliamentary session to meet Deuba, who then agreed to attend. Their discussion, attended by Finance Minister Paudel and Home Minister Ramesh Lekhak, resulted in a consensus to expedite the governor’s appointment.
Deuba has put forward Dr. Bishwa Paudel, former Vice-Chairman of the National Planning Commission, as the candidate. The committee aims to finalize Paudel’s recommendation today, with plans to hold a cabinet meeting this evening to confirm the appointment.
The cabinet session, originally scheduled for Monday, was deferred to accommodate these discussions. A committee member confirmed receiving Paudel’s call for the meeting just minutes before the announcement, underscoring the urgency of the process.
Public sentiment on X reflects cautious optimism, with users noting the importance of a swift and transparent appointment to stabilize Nepal’s financial leadership. One user commented, “Hope Dr. Bishwa Paudel’s nomination brings stability to NRB, but the process shouldn’t be rushed.”
The appointment comes at a critical time for Nepal’s economy, with the central bank playing a pivotal role in addressing inflation and financial sector challenges. As the committee prepares to meet, all eyes are on the Finance Ministry to deliver a decision that restores confidence in Nepal’s monetary policy framework.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
