Government Forms Committee to Recommend Chairperson for SEBON

The government of Nepal has established a high-profile committee tasked with proposing a suitable candidate for the position of Chairperson at the Securities Board of Nepal. The move comes in line with Clause 7(3) of the Nepal Securities Board Act 2007, as announced during a cabinet session on Wednesday.

Heading the committee is Dr. Min Bahadur Shrestha, Vice Chairman of the National Planning Commission, who will coordinate the efforts to select a qualified and capable individual for the crucial role. The committee also includes Dr. Krishna Hari Puskar, Secretary at the Ministry of Finance, and Uday Niraula, Associate Professor at Shankar Dev Campus.

The committee’s mandate involves developing a transparent and rigorous process for the selection of the chairman. This includes releasing official announcements, inviting applications, and shortlisting three candidates. The final recommendations will be presented to the government for the ultimate appointment of the chairman.

Sources indicate that eight individuals have expressed their interest in the Chairmanship of the Board. Notable contenders include Mukti Shrestha, the executive director of the Board, Dr. Navaraj Adhikari, Krishna Pokharel, executives at the Board, and Chandra Singh Saud, former CEO of Nepal Stock Exchange (NEPSE). Other prominent candidates include Chiranjibi Chapagai, former chairman of Nepal Insurance Authority, Niraj Giri, former executive officer of the Board, and former Deputy Governors of Nepal Rastra Bank, Shivaraj Shrestha, and Chintamani Shiwakoti.

The proposal, once submitted to the Ministry of Finance, will undergo further evaluation before being elevated to the government by the Minister. The cabinet will then make the final decision by selecting one candidate from the recommended names. This process reflects the government’s commitment to ensuring a fair and transparent appointment of a qualified individual to lead the Securities Board of Nepal.