The government has decided to appoint Maha Prasad Adhikari, who served as Governor of Nepal Rastra Bank (NRB) until recently, to the committee responsible for recommending candidates to succeed him.
The decision was made at the Cabinet meeting held on Wednesday, April 30, nine days after former NRB Governor Bijaya Nath Bhattarai resigned from the committee, citing its inactivity and lack of relevance.
Read: Bhattarai Resigns from Governor Recommendation Committee, Citing Inactivity
Under the Nepal Rastra Bank Act, the recommendation committee is composed of the Finance Minister as chair, one former governor, and one expert nominated by the government with expertise in economics, monetary policy, banking, finance, or commercial law. The committee is tasked with recommending three candidates—drawn from among Deputy Governors and other distinguished professionals in relevant fields—to the Cabinet, which then selects and appoints one.
Read: Governor Race Heats Up: Bhatta’s Potential Nomination Challenged in Court
The committee—formed over a month ago—also includes Bishwo Paudel as the expert member. However, it has yet to convene, fueling speculation about its relevance and effectiveness.
Despite the statutory procedure, reports indicate that the ruling coalition—Nepali Congress and CPN-UML—has already reached an understanding to appoint Dr. Gunakar Bhatta as the next Governor. Bhatta, who resigned as NRB’s Executive Director on April 18, is considered the frontrunner.
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This apparent political consensus has raised concerns over the committee’s legitimacy and triggered legal scrutiny. A writ petition has been filed at the Supreme Court challenging Bhatta’s potential appointment, questioning his eligibility.
The Act requires that a new Governor be appointed at least one month before the incumbent's term expires, but political maneuvering has cast a shadow over what is intended to be a transparent, merit-based selection process.
Read: Maha Prasad Adhikari: A Governor’s Term amid Crisis and Controversy
