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Kathmandu,Monday January 31, 2000 Magh 17th, 2056.
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NC
division over appointment
Finance
Minister Mahesh Acharya did indeed reveal the other day that the
ruling Nepali Congress party is suffering from intense intra-party
differences that is hurting the nation. This has come despite the
occasional claims by Prime Minister Bhattarai and the NC President GP
Koirala that there are no differences. Apparently, Minister Acharya’s
resignation over the impending appointment of Dr Tilak Rawal as the
new governor of Nepal Rastra Bank (NRB), which came at the Prime
Minister’s behest despite the Finance Minister’s disagreement, is
a pointer to brewing crisis within the ruling party that may prove
disastrous if not duly checked in time.
It
is indeed unfortunate that Acharya had to openly announce
"persistent differences" with the Prime Minister as the
cause for his mutiny. But going by the reasons he cited for the move,
it appears that he is not altogether wrong in wishing ‘someone else’
at the helm of the central bank. Probably, there would not have been
much furore over Dr Rawal’s appointment had the matter been decided
after mutual discussion and consensus. But it should also be borne in
mind that Dr. Rawal had been the chief executive of Rastriya Banijya
Bank till a few months ago and the bank’s performance had been none
too good during his tenure. In fact, a highly classified report with
the Finance Ministry suggests that figures have been tampered and
twisted to show the bank in good light. Another committee formed by
Nepal Rastra Bank is now looking into the matter and reports say its
preliminary investigation tend to confirm earlier findings. Acharya’s
wish to have an efficient, dynamic and untainted personality at the
helm of Nepal Rastra Bank is totally understandable. Such a person
would have had the necessary mandate to carry out needed reforms and
to take the nation on the right course as far as financial sector is
concerned. Whether the resignation is accepted or not, it has only
helped to dignify Mahesh Acharya’s position. And Acharya was a
person who has stood by Bhattarai in the Nepali Congress Central
Working Committee just a few short weeks ago when NC parliament
members were seeking a replacement of the parliamentary party leader.
The
way the country is driven economically depends much on the quality of
leadership the government displays in this sector. And naturally, the
role of a Finance Minister is significant. But how can a finance
minister work when things do not move quite the way he likes them to
be? In any case, it will be difficult for a minister to work with a
person whom he sees as unfit and incompetent for the job as his top
aide. For it must not be forgotten that in Nepal, the Finance Ministry
controls the Nepal Rastra Bank and the bank is answerable to the
ministry. The World Bank’s warning that Acharya’s departure would
"seriously jeopardise" the upcoming Paris Aid Group meeting,
from the perspective of Nepal, also holds some water given the
reform-minded policies pursued by Acharya.
The
resignation clearly points to serious differences between the camps of
Prime Minister Bhattarai and Party President Girija Prasad Koirala.
The fact that Bhattarai wanted to keep his west-regional vote bank in
parliament in good humour by appointing Dr Rawal, who is said to be
loyal to influential second generation leader Sher Bahadur Deuba, also
speaks volumes in this regard. Acharya’s allegations that his party
has faced many problems but "never seriously tried to overcome
them" and his open admission
that the present "majority government lacks vision" also
reflects the differences. It should be noted that the appointment of
qualified, able and efficient people in responsible positions is a
must and the political leadership must rise above petty interests
while making decisions. The absence of rational leadership means the
nation will suffer much in the long run. In whatsoever way this crisis
is resolved, Acharya clearly comes out as the winner.
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