47 Apply for Securities Board Chairman Position in Open Competition

Kathmandu. 47 individuals submitted applications for the post of Chairman of the Securities Board of Nepal. This participation in the application opened for appointment through open competition is the highest so far. 

Before this, when Santoshnarayan Shrestha was appointed chairman, 19 applications were received. Similarly, during Ramesh Hamal's tenure, there were 15 applicants. Before that, during Bhishmaraj Dhungana's tenure, the number of such applicants was limited to 8. 

Not only the board, but interest has also increased in other places where applications have been opened for appointment through open competition.  21 people applied this time to become the Director-General of the Civil Aviation Authority of Nepal. 

Previously, the recommendation for Director-General was made internally. Appointment was not done through open competition in this manner. Generally, a practice of appointing a Deputy Director-General level person as Director-General, but during Pradip Adhikari's tenure, criticism arose for bringing in a junior and entrusting them with leadership. Currently, among the applicants are Deputy Director-Generals and Deputy Directors of the CAAN itself, as well as experts related to the aviation sector from outside the authority. 

Meanwhile, 27 people have applied for the open competition for five directors of the Nepal Airlines Corporation. These applicants include those appointed by the previous government as well as new faces. 

Currently, the government has abolished approximately 1600 political appointments across the country at once by bringing in new laws through an ordinance. Now, the government is preparing to adopt the method of open competition for the reappointment of all these positions. The participation seen in the recently opened applications suggests the possibility of similar competition for other positions. 

Why did the number of applicants increase?

Among the mentioned positions, there was no clear provision for the appointment of the Director-General of CAAN and Director of NAC. In CAAN, there is a provision to appoint any employee working in the service of the Government of Nepal or the authority as Director-General. 

The arrangement for the directors of Nepal Airlines Corporation is even more chaotic. There is no determination of the number or qualification for that post. To such an extent, there is a provision to appoint any person, whether from the government or non-government sector, to the board of directors. 

Currently, the government has abolished approximately 1600 political appointments across the country at once by bringing in new laws through an ordinance. Now, the government is preparing to adopt the method of open competition for the reappointment of all these positions.

In other words, the appointment arrangements in these organizations are such that the law has provisions for the persons in the government leadership to manage whomever they wish under any circumstances. 

Appointments to such positions have not only been controversial due to the lack of a competitive environment and clear procedures but also because there was no open candidacy. 

However, there was a provision in the law regarding the process for the appointment of the Board Chairman. The law previously had a provision to form a committee led by the Vice-Chairman of the National Planning Commission, including the Secretary of the Ministry of Finance and a member who is an expert in securities, to recommend appointments to that post. 

But, in practice, such a committee used to make recommendations according to the government's directives. Apart from those who had made arrangements with the leadership, the committee would not recommend others even if they were qualified. 

From the applications received, the committee would select 5 names based on suitability. From those, it would send 3 names for recommendation to the Council of Ministers. There is a provision to appoint one person from among them as chairman. 

What is surprising here is that the last three leaderships are accused of coming according to the wishes of businessman Deepak Bhatta, who is known as an intermediary. The last two leaderships have been individuals who are unheard of in the securities sector and are not focused on the subject. 

Ramesh Hamal, who works in the hospitality sector and is the chairman of NRN Thailand, was recommended by the committee led by the current Governor of Nepal Rastra Bank, Vishwanath Poudel. After that, Santoshnarayan Shrestha was shortlisted by the committee led by Min Bahadur Shrestha, and Shivraj Adhikari's committee made the recommendation. That is, the recommendations made in these two appointments show how the so-called experts have been becoming 'pawns' for setting up arrangements. 

This time, realizing that the previous network of arrangements has been dismantled, even those who could not lobby have applied, which may have increased the number of applicants, according to stakeholders. 

Bhuwan Dahal, an expert member of the recommendation committee, states that there is a different reason for the large number of applicants for the board. 

'This time we have not asked for applications, only personal details (CVs), which might be why the number appears high,' says Dahal. 

Committee Practicing Differently in Board Chairman Recommendation

The recommendation committee for the appointment of the Securities Board Chairman has practiced differently this time. While the committee previously only asked for applications, it has now asked for personal details. The committee has formulated its working procedure in such a way that individuals who appear qualified based on these details will be shortlisted, and if dissatisfied, the committee can even search for individuals other than these. 

Expert member Dahal states that this arrangement has been made to ensure the selection of a distinguished person in the securities sector in accordance with the spirit of the law. 

'We have made the working procedure flexible; now we will study the received CVs and make the necessary decisions.' However, if the committee feels there is a more suitable person, it can bring in names for whom applications have not been received,' says Dahal, 'We have asked for CVs openly only so that individuals we have not identified do not miss the opportunity to compete, as they might be qualified.' 

Ministry employees are currently screening the received applications. Subsequently, the committee will shortlist some names from them and request their action plans. The committee plans to evaluate the submitted action plans and recommend three names. 

Expert member Dahal states that the committee plans to complete all procedures and make recommendations by next Friday. However, he adds that this is not a strict deadline. He says, 'But we will not rush in the name of doing it quickly; it might take a few more days.'