Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal’s Supreme Court issued a provisional order on Tuesday putting a temporary stay on the government’s suspension of the central bank governor until the next hearing, a lawyer said.
Maha Prasad Adhikari was suspended on April 8 as governor of the central Nepal Rastra Bank by the government, which named his deputy the interim chief.
After the ruling, he now looks set to resume work on Wednesday, tackling the Himalayan country’s economic challenges, with foreign reserves hit by the slump in tourism during the pandemic and remittances also suffering.
The finance ministry has not said why Adhikari was suspended, saying only a government panel would investigate the matter. Neither the central bank nor Adhikari have commented, but a government official said Adhikari had been accused of leaking sensitive financial information to the media.
Adhikari filed a petition to the Supreme Court demanding an interim order against his suspension, saying it was illegal.
At the end of the hearing, Judge Hari Prasad Phuyal ordered the government not to “immediately implement the decision and to allow the petitioner to resume his work as usual”, Tikaram Bhattarai, Adhikari’s lawyer.
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