KATHMANDU, April 18: Dr Gunakar Bhatta, Executive Director of Nepal Rastra Bank (NRB), has resigned from his post in order to be eligible for the appointment as the next governor of the central bank. His resignation came on Friday following an informal agreement between the ruling coalition partners Nepali Congress (NC) and CPN-UML to appoint him as the next Governor.
In response to public inquiries, Bhatta confirmed that he had stepped down from his position.
After the completion of the last Governor Maha Prasad Adhikari’s term, the appointment of a new Governor was delayed due to the lack of consensus between the two major coalition partners. However, after increased pressure from the NC, Prime Minister KP Sharma Oli agreed to appoint a qualified individual in accordance with the NRB Act.
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Dr Bhatta, who has not been involved in any controversy, is a long-time cadre of the central bank. The government is now preparing to officially appoint him as the new Governor through the due process.
Several candidates had been lobbying for the position of Governor. Among those considered close to the NC were NRB Board Member Dr Rabindra Pandey, Executive Director Dr Gunakar Bhatta, and former CEO of Nabil Bank Gyanendra Dhungana.
On the other hand, contenders believed to be close to CPN-UML included NRB Deputy Governor Dr Neelam Dhungana, former member of the National Planning Commission (NPC) Dr Prakash Kumar Shrestha, another NRB Deputy Governor Bam Bahadur Mishra, and CEO of Prabhu Bank Ashok Sherchan. In addition, a group of intermediaries supported the candidacy of former Chief Secretary Rajendra Kishor Chhetri.
Surpassing all these candidates, Dr Bhatta has now emerged as the prime contender to become the next Governor
A selection committee, led by Finance Minister Bishnu Poudel, has already been formed to appoint the new NRB Governor. The committee includes former Governor Bijay Nath Bhattarai and former Vice-Chairman of the NPC, Dr Bishwo Paudel, as members.
According to the NRB Act, the committee is responsible for recommending three candidates, including one of the current Deputy Governors. The government will then appoint one candidate from the recommended list. With an agreement now reached between the two major political parties, the process is set to move forward for the official appointment of the new Governor.
