Sitaula appointed ADBL chief executive

KATHMANDU, DEC 15 -

The Agriculture Develo-pment Bank Limited (ADBL) board on Sunday appointed Lila  Prakash Sitaula as its chief executive officer. Sitaula, a former Nepal Rastra Bank Executive Director, was ADBL's director until recently.

The board chose Sitaula from among 14 contestants based on the recommendation of a four-member evaluation committee. The committee comprised of ADBL Director Laxmi Manandhar, former finance secretary Yubaraj Bhusal, former deputy governor Bir Bikram Rayamajhi and the Finance Ministry's Joint Secretary Mani Ram Ojha.

After his appointment, Sitaula said he would prioritise bringing the systems on track, developing the bank as a sustainable organisation and expanding lending to the agriculture sector aggressively, while giving due importance to other commercial activities.

As taking employee unions into confidence proving a tough job for former CEOs, Sitaula said he would accommodate the unions tactfully. “While accommodating their interest, I will make sure the system is followed,” he said.

How tough is running ADBL can be gauged by the fact that two of the former chiefs had to leave before their terms expired, particularly due non-cooperation from heavily politicised employee unions.

The top ADBL post had been vacant ever since Tej Bahadur Budhathoki was sacked in October. The board had removed Budhathoki following agitation from Nepal Congress-aligned union.

The Maoist-led government had appointed Budhathoki to the post. Former CEO Shyam Singh Pandey had also resigned prematurely due to non-cooperation from the unions.

Source: The Kathmandu Post