Kathmandu, December 30
The government has called applications for the vacant position of chairperson of the Securities Board of Nepal (SEBON), the stock market regulator of the country.
The position is vacant since early October as the government sacked incumbent Bhishma Raj Dhungana after he was found involved in insider trading of shares of various companies despite his regulatory role.
To find Dhungana’s successor, the government has recently formed a new committee led by National Planning Commission Vice-chairperson Biswo Poudel. Finance Secretary Madhu Kumar Marasini and former SEBON chair Jeeva Nath Dhital are two other members of the panel.
Earlier also, the Ministry of Finance had formed a three-member team to select the official under the leadership of Poudel. Poudel’s panel collected applications from 12 candidates, but it could not submit a shortlist of three top candidates to the ministry as required as stakeholders protested the committee saying the Finance Ministry does not have any right to form such a selection committee.
Following that, the cabinet formed a new committee.