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SEBON chairperson appointment likely to be delayed again

Kathmandu, January 17

The ongoing procedure to appoint the chairperson of the country’s share market regulatory body, Securities Board of Nepal (SEBON), has been delayed again.

The position is 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. However, Jeeva Nath Dhital, a member of the three-member selection committee, has accused the committee coordinator, National Planning Commission Vice-chairperson Biswo Nath Poudel, of amending the working procedure of the panel including the qualification of the applicant without consulting anyone.

Meanwhile, Poudel says he amended the procedure with some good intentions, but the other members made it public on the Ministry of Finance website without signing, in effect, making it controversial. He suggests the members should have consulted him if they had objections to the amendment.

Finance Secretary Madhu Marasini is the third member of the team.

Meanwhile, the amended working procedure has been removed from the website after controversy.

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