Guragain´s appointment was confirmed on Monday during a meeting of the fund chaired by Finance Minister Barsha Man Pun, according to a statement issued by the personal press secretary of the finance minister.[break]
The decision was taken based on the recommendation made by a three-member committee comprising member of the National Planning Commission, deputy governor of Nepal Rastra Bank and joint-secretary of the Ministry of Finance.
Guragain was one of the 10 candidates who had applied for the post, which is being filled for the first time since the establishment of the Fund three years ago.
The fund was established by the government of the UCPN (Maoist) as a vehicle to provide unsecured low-interest loans of up to Rs 200,000 to promote entrepreneurship among jobless youths. At that time, the fund had set an ambitious goal of providing self employment to 50,000 people. However, it has been able to extend loans to only 3,200 people so far.
Citing centralization of its works as one of the main reasons for lackluster performance, the fund is planning to appoint volunteers in all 75 districts.
The appointments of volunteers will be made soon, Dr Punya Prasad Regmi, vice-chairman of the fund, said.
Related story
Govt to establish financial fund of Rs 100 billion for infrastr...
