KATHMANDU, May 8: National Planning Commission (NPC) Vice-chairman Gunakar Bhatta has stepped down as coordinator of the government’s recommendation committee tasked with appointing the new chairman of the Securities and Exchange Board of Nepal (SEBON).
An official from the Ministry of Finance confirmed that Bhatta resigned citing a conflict of interest after his cousin, Gopal Bhatta, applied for the post. The committee had opened applications on April 13, receiving a total of 47 candidates.
Revised interest rate corridor system introduced
The government formed the three-member panel in early April to fill the SEBON chairmanship, which has remained vacant since former chief Santosh Narayan Shrestha resigned. Shrestha left the position amid mounting pressure linked to a money laundering investigation involving businessman Deepak Bhatta, in which Shrestha’s name had also surfaced. Reports suggest the government urged him to step down to facilitate the inquiry.
The recommendation committee now consists of Finance Secretary Ghanshyam Upadhyay and former banker Bhuvan Kumar Dahal.
