Three Member Committee Formed to Recommend New Securities Board Leadership

The Government of Nepal has officially formed a three member recommendation committee to select a new Chairperson for the Securities Board of Nepal (SEBON). During a Cabinet meeting held on April 21, 2026 Yesterday, the government appointed Dr. Gunakar Bhatta, Vice Chairman of the National Planning Commission, to lead the committee. He is joined by Finance Secretary Ghanshyam Upadhyaya and former President of the Nepal Bankers' Association, Bhuvan Kumar Dahal, as members. This team is tasked with identifying and recommending three potential candidates to the Cabinet in accordance with the Securities Act, 2063.

This move comes as a matter of urgency following the recent resignation of Santosh Narayan Shrestha, which left the regulatory body without a head. The lack of leadership at SEBON has significantly impacted the capital market, leading to a massive backlog of IPO and right share approvals totaling billions of rupees. By forming this committee, the government aims to restore investor confidence and resume stalled market reforms, with a final appointment expected within the next few weeks.