Former Finance Minister Pun accuses interest groups of appointing SEBON Chair

Kathmandu, November 25 — CPN (Maoist Centre) leader and former Finance Minister Barshaman Pun has accused a vested interest group of appointing Santosh Narayan Shrestha as the Chairman of the Securities Board of Nepal (SEBON). After Shrestha’s appointment, Pun stated that the claims made by his party about the government being run by interest groups have now been proven true.

He further alleged that this same group would appoint the next Governor, claiming that they have already prepared a candidate for the position. Pun said that this group has a design to control the economy and the stock market, and he questioned, "Isn't this the same crony capitalism we have been talking about?"

In an interview with Ratopati on Monday, Pun said, "One of the major issues that led to the breakdown of the government between Oli and us was the disagreement over interests. When our interests didn’t align, the government collapsed. Now it is clear to the public. There were those who spoke of the pain we had of being removed from the government, but now, they have proven our point. The influence of middlemen doesn’t stop here. Regulatory bodies like the Securities Board of Nepal, Nepal Rastra Bank, and National Insurance will now fall into the hands of these middlemen."

Pun condemned the actions of transferring the country's entire economy into the hands of intermediaries, calling it reprehensible. Shrestha was appointed as the Chairman of the SEBON in Monday’s Cabinet meeting.