Appointment of NEPSE General Manager takes a controversial turn

The final list of candidates for the position of General Manager of Nepal Stock Exchange (NEPSE) has been finalized by the Financial Sector Management Divison of Ministry of Finance adding up to the controversy regarding the appointment. The Division has forwarded the names of  three candidates, Chandra Saud, Manoj Gyawali and Pramod Sharma to the government for appointment. Out of the three, Chandra Saud’s selection has fueled a debate among the stakeholders as Saud carries a tainted reputation for bringing a financial crisis to Nepal Insurance while he worked there. Likewise, Manoj Gyawali, Chief Executive Officer of Jyoti Development Bank and Professor Pramod Sharma’s name has been forwarded by the division. “Thirteen candidates had applied for the post and we shortlisted five out of them. These three candidates have been further selected by the Division after looking into their plan presentation and personal interview,” said Uttar Kumar Khatri, Joint Secretary at The Division, “We have solicited the names of three candidates, now it is up to the government to select one of them.” However, negative sentiments towards the appointment has surfaced as stakeholders believe that, competent personal were set aside and incompetent ones were selected. Moreover, in the next phase, a Ministerial level meeting will now appoint a candidate among three to take over the position of General Manager of NEPSE which is vacant since July 7, 2017.