KATHMANDU, July 19: Newly-appointed Minister for Finance Bishnu Paudel has appointed Mahesh Baral as the chairman of the Securities Board of Nepal (SEBON), replacing Narendra Kumar Rana, who was appointed by former finance minister Barshaman Pun.
Finance Minister Paudel administered the oath of office and secrecy to Baral. Both Rana and Baral are joint secretaries of the government. Although the position of SEBON chairman is still vacant, the appointment follows the tradition of appointing a joint secretary from the Ministry of Finance as the interim chairman of SEBON until a new chairman is formally appointed.
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Joint Secretary Mahesh Baral, who was nominated as a member of SEBON, assumed the chairmanship and took the oath of office and secrecy before Finance Minister Paudel. Baral began his duties as chairman on Thursday. Paudel had nominated Baral as a member of SEBON on Wednesday.
According to the provisions of the Securities Act, 2063 BS, if the position of chairman of SEBON falls vacant, a member representing the Ministry of Finance will act as the interim chairman. Baral is currently serving as the Chief Customs Administrator at Tribhuvan International Airport Customs Office.
