Nepali Congress Proposes Bishwo Paudel as Governor Amid Delay and Dispute

Nepali Congress has proposed former Vice-Chairman of the National Planning Commission, Bishwo Paudel, as the new Governor of Nepal Rastra Bank. The proposal was made by party President Sher Bahadur Deuba during a meeting held at the Prime Minister’s residence in Baluwatar on Saturday, which was attended by top leaders of the ruling coalition including CPN-UML.

Earlier, there was an understanding between Prime Minister KP Sharma Oli and President Deuba to appoint Gunakar Bhatta, the current Executive Director of the central bank, as the Governor. Based on that agreement on Baisakh 3 (April 15), Bhatta resigned from his post on Baisakh 5 (April 17). However, Acting Governor Neelam Dhungana did not accept Bhatta’s resignation, prompting Deuba to put forward Paudel’s name as an alternative, according to party sources.

As per the power-sharing deal between the two ruling parties, the Governor’s position has been allocated to Nepali Congress. Given the critical and sensitive nature of the central bank, Nepal’s law mandates that the appointment of a new Governor should be completed one month before the incumbent’s term ends to avoid any leadership vacuum.

Outgoing Governor Maha Prasad Adhikari completed his five-year term and retired on Chaitra 24 (April 6). Although the new Governor was legally required to be appointed by Falgun 24 (March 7), the government only formed the recommendation committee on Chaitra 11 (March 24). Even after a month and a half, the appointment process has yet to begin, raising serious concerns over governance delays in one of Nepal's key financial institutions.