Government Reconstitutes Committee to Select SEBON Chairman After Previous Process Cancellation

The government has reconstituted a three-member committee to recommend the chairman of the Securities Board of Nepal (SEBON), marking a fresh start after the previous process was canceled.

Prime Minister Pushpa Kamal Dahal and CPN-UML President KP Sharma Oli agreed on Monday to initiate this new process. In a Council of Ministers meeting, a committee was formed under the coordination of Min Bahadur Shrestha, vice-chairman of the National Planning Commission.

Joining the committee are Secretary of the Ministry of Finance Madhu Kumar Marasini and Professor Uday Niraula, with Shrestha serving as the coordinator.

The term of former SEBON Chairman Ramesh Hamal ended on January 5, and a successor has yet to be appointed.

The selection process for SEBON chairman involves a public call for applications with a notice period of at least 15 days. Candidates must possess at least seven years of experience in securities market management, capital market development, and management, or commercial law, and must submit their applications along with a professional action plan.

Evaluation criteria include professional action plans, educational qualifications, experience, training, and presentations. The committee will shortlist up to five candidates based on their action plans, ultimately recommending up to three candidates to the government for the final decision.

In the previous round, 19 applicants applied, with the committee shortlisting five candidates. However, only Santosh Narayan Shrestha and Mukti Shrestha participated in the interviews, while the remaining three candidates declined.