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19 candidates in running for Sebon chair

19 candidates in running for Sebon chair

Nineteen individuals are in the running to become the next chairperson of the Securities Board of Nepal (Sebon). Acting chairperson Dr Navaraj Adhikari and executive directors duo Krishna Raj Pokharel and Muktinath Shrestha are among the 19 vying for the position.

The post has been vacant since Ramesh Hamal completed his term as the chairperson of the stock market regulator on Jan 5. Hamal was appointed for the remainder of the term after Bhishma Raj Dhungana was dismissed from the position.

Sebon chairperson is appointed for a four-year term. According to the Securities Act, 2007, the government can extend the term for another four years if it wishes. But Hamal did not receive approval for a second term.

Hamal was chosen for the position ahead of share market expert and former executive director of Nepal Rastra Bank, Dr Gopal Bhatta, and Krishna Prasad Pokharel.

Former Beema Samiti Chairperson Chiranjivi Chapagain, former CEO of Nepal Bank Ltd Krishna Bahadur Adhikari, CEO of Nepal Stock Exchange Krishna Bahadur Karki, former NRB Executive Director Dr. Gopal Bhatta, former executive director of Sebon Niraj Giri, former CEO of Nepal Stock Exchange Sitaram Thapaliya, and former CEO of Nepal Infrastructure Bank Ram Krishna Khatiwada have applied for the position.

Nine of the applicants—Chiranjeevi Chapagain, Krishna Raj Pokharel, Dr Navraj Adhikari, Dr Gopal Bhatta, Niraj Giri, Dr Keshav Prasad Shrestha, Sitaram Thapaliya, Khagendra Katuwal and Mukti Aryal—had applied for the position earlier also.

A three-member committee, led by an expert member of the National Planning Commission (NPC) and composed of finance secretary and an expert, recommends the chairperson of Sebon.

Although the committee, led by NPC Vice-chairperson Min Bahadur Shrestha, was formed in January, it could only finalize its work procedures after one and a half months only. A vacancy announcement notice was subsequently published on February 28 with a 15-day timeframe. Nineteen individuals have submitted their applications responding to the notice.

According to the work procedures, applicants are evaluated based on four criteria: the applicant's work plan, educational qualifications, presentation of the work plan, and interview. The committee shortlists five applicants based on their educational qualifications, experience, and work plan. These five applicants will be called for a presentation and interview.

Applicants are given 30 minutes for their presentations. The committee then recommends the three best candidates to the government, from which one will be appointed to the position.

List of 19 Applicants

         Chiranjivi Chapagain

         Krishna Raj Pokharel

         Santosh Narayan Shrestha

         Dr Navaraj Adhikari

         Dr Gopal Bhatta

         Niraj Giri

         Dr Keshav Prasad Shrestha

         Krishna Bahadur Adhikari

         Dr Raghuraj Kafle

         Muktinath Shrestha

         Pravin Pandak

         Surya Prasad Adhikari

         Ramdev Yadav

         Sitaram Thapaliya

         Dr Bimal Kumar Tiwari

         Ram Krishna Khatiwada

         Khagendra Katuwal

         Mukti Aryal

         Krishna Bahadur Karki