Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Prime Minister KP Sharma Oli has resigned from his post. Addressing the nation, Oli said that his resignation intends to respect the supremacy and legacy of the Supreme Court and its verdict.
Earlier on Monday, the apex court had reinstated the dissolved House of Representatives (HoR) and asked president to appoint Nepali Congress Chairman Sher Bahadur Deuba to the Prime Ministerial Post. Earlier today, President Bidhya Devi Bhandari has already appointed Deuba as the Prime Minister.
Deuba, who has been the Prime Minister for fifth time, is scheduled to take the oath of office and secrecy later at 5 PM. He is expected to expand the Cabinet today itself.
The outgoing Prime Minister KP Sharma Oli, during his address to the nation, said that Monday’s verdict of the apex court’s constitutional bench will have a long-term and negative impact on the multiparty parliamentary system in Nepal. Oli said that the country had been drawn into instability and uncertainty due to the court’s verdict back then.
Moreover, Oli also said that the apex court passed the verdict deliberately in favor of the opposition party and against the multiparty parliamentary system.
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