The correct answer is option 4, "Neither 1 nor 2." This means that both statements 1 and 2 are incorrect. Let`s analyze each statement:

Statement 1: "It is a discretionary power." This statement is incorrect. The power to issue ordinances is not a discretionary power of the Governor. In fact, the Governor exercises this power on the aid and advice of the Council of Ministers. The Governor acts as the representative of the President under Article 213 of the Constitution and can only issue an ordinance in cases where the legislative assembly is not in session.

Statement 2: "The Governor himself is not competent to withdraw the Ordinance at any time." This statement is also incorrect. The Governor does have the power to withdraw an ordinance at any time before it is laid before the legislative assembly. The Governor can also withdraw an ordinance if a resolution disapproving the ordinance is passed by the legislative assembly.

In conclusion, both statements are incorrect, and the correct answer is option 4.