KATHMANDU, Feb 16: The Securities Board of Nepal (Sebon) is likely to get its new chairman soon as the selection panel recently shortlisted three contenders and forwarded their names to the Cabinet.
According to a Sebon official, Ramesh Hamal, Krishna Raj Pokharel and Gopal Bhatta have been recommended for the post of Sebon chairman. A total of 15 candidates had applied for the position.
The post has remained vacant for more than four months after the Bhishma Raj Dhungana was sacked over controversy surrounding the share purchase of Sarbottam Cement. Dhungana was found involved in insider trading of shares of various companies despite his regulatory role.
The government has formed a three-member selection committee led by National Planning Commission Vice-chairperson Biswo Nath Poudel to appoint Sebon’s new chairman. The appointment of the head of the regulatory body has been delayed mainly due to the conflict of interests of the government bodies.
In order to handpick a person of favor for vested interests, the panel even amended the working procedure after receiving applications from a number of candidates in the first stage. After the move triggered controversy, the government-formed panel revoked the amendment.