Kathmandu, February 18
Ramesh Hamal has been appointed the chairperson of the Securities Board of Nepal (SEBON), the regulating agency of the country’s share market.
A cabinet meeting held on Thursday made the decision. Hamal, an engineer by profession, worked for the Nepal Electricity Authority for eight years before he migrated to Thailand for study and business. Back in Nepal, he is involved in the hospitality business.
The cabinet decided the appointment based on a report by the selection committee led by the National Planning Commission vice-chairperson Biswo Poudel. The Poudel-led panel had shortlisted Ramesh Hamal, Gopal Bhatta and Krishna Bhatta.
The position was vacant since early October 2021 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.
In the last week of December 2021, the government had called applications from qualified candidates for the position.
