Fight among Pant, Joshi and Singh

KATHMANDU, NOV 28: 

The selection committee has recommended three names — Radhesh Pant, Surendra Govind Joshi and Shanker Man Singh — for the appointment of chief executive officer of the Investment Board.

Pant, currently chief executive officer of Kumari Bank, has a long professional and impressive background, whereas Joshi was consultant of multinational agencies, and Singh is currently general manager of Nepal Stock Exchange (Nepse).

Today’s meeting of the Investment Board has decided to send the name to the Cabinet for the appointment of the chief executive to the much-hyped Investment Board.

Some eight candidates — including Pant, Joshi, Singh, and Tularaj Basyal, Hemant Kharel, Jamuna Khatri, Surendra Poudel and Rishi Koirala — have applied for the post of chief executive of the Board that is envisioned to give a one-window solution to potential investors in big projects.

The cabinet will most probably appoint the executive chief tomorrow. After the appointment of the executive chief, the board will start its operations.

The house had approved the much-awaited Investment Board Act on August 15, after two years of pending, though the idea was floated some 

14 years ago by bi-national chambers.

The board that will have a secretariat that will work as a one-window system to address investors’ concerns will be directly under the Prime Minister’s Office. The prime minister is the chairman and finance minister is the vice-chair of the Board.

It is expected to smoothen inflow of foreign direct investment (FDI) by creating investment friendly environment by facilitating investment in infrastructure projects and projects with large capital base.

According to the World Investment Report (WIR) of UNCTAD, Nepal ranks at the bottom of the list of countries attracting foreign investment among the Least Developed Countries (LDCs).

Source: THT