Kathmandu. During the clause-wise discussion on the bill designed to amend the Nepal Rastra Bank Act, 2058 BS, the members of the committee expressed differing views on whether to keep or reduce the term of the central bank governor and board of directors for five years.

Lawmakers of the ruling party Rastriya Swatantra Party (RSP) are divided on this issue. Their opinions are different. In today’s meeting of the committee, lawmaker Lima Adhikari said that the term of the governor and the board of directors should be four years.

Sushil Khadka said it would be appropriate to shorten the term of the sitting five years to four years. Another member of the committee, Parasmani Gelal, said that the term of the governor and the board of directors should be three years.

Parshuram Tamang suggested that the term of the governor and the Board of Directors members could be extended once if their performance is satisfactory after the completion of the term.

Likewise, Pushpa Raj Kandel suggested that the term of the office could be extended once instead of five years.

Lawmaker Ganesh Parajuli said that the five-year term of the Board of Directors of the Board of Directors should remain unchanged as the NRB is an institution that operates as per certain rules and procedures.

Lawmaker Bidushi Rana suggested that separate qualifications should be determined for the appointment of governor, deputy governor and member of the board of directors.

Similarly, Chairman of the Finance Committee Dr Krishna Hari Budhathoki informed that discussions were underway in the committee regarding the term of the governor and the Board of Directors and to extend the term of the Board of Directors or not.