Finance Minister Pun Suspends SEBON Chairman Selection Process Due to Dissatisfaction

The process of appointing the Chairman of the Securities Board of Nepal has been temporarily suspended. This decision follows significant dissatisfaction expressed by Finance Minister Barshaman Pun regarding the composition of the shortlisted candidates, citing affiliations with either familial or political ties.

Consequently, the selection process for the Chairman has been halted indefinitely, as per the directives of Minister Pun. The scheduled presentation of the shortlisted candidates, initially planned for Thursday, has been postponed until further notice. Moreover, Finance Minister Pun is set to travel to the United States on the 2nd of Baisakh. Consequently, the selection process for the Chairman will remain on hold until his return to Nepal. Even upon his return, the process will not resume without thorough discussions on the course of action.

Nineteen individuals had applied for the position of SEBON Chairperson, among whom the Committee had shortlisted five candidates. These candidates included Krishna Bahadur Karki, CEO of NEPSE, former Insurance Board chairman Chiranjibi Chapagain, Dr. Nabaraj Adhikari, Executive Director of SEBON, Mukti Nath Shrestha, Executive Director of SEBON, and Santosh Shrestha, who has served in various managerial roles in banking and financial institutions.