Kathmandu, October 9

The government has appointed Chandra Singh Saud as general manager of Nepal Stock Exchange (Nepse) — the sole secondary market of the country.

The Cabinet meeting held today at Singha Durbar appointed Saud for the post as per the recommendation of the Ministry of Finance (MoF).

Industry Minister Sunil Bahadur Thapa confirmed that the Cabinet meeting appointed Saud for the post out of the three candidates recommended by the MoF. Along with Saud, Pramod Raj Sharma — a university professor, and Manoj Kumar Gnyawali — deputy chief executive officer at Jyoti Bikash Bank, had been recommended as the possible candidates for the aforementioned post.

Saud, who is from Baitadi of Province 7, has completed masters in business studies from Tribhuvan University. Saud had worked in Nepal Insurance Company for 24 years and held the top post of the company when he stepped down last year.

The MoF had initiated the process to appoint new general manager at Nepse after former GM Sitaram Thapaliya completed his four-year tenure on July 7. MoF had formed a committee in coordination of Joint Secretary Uttar Kumar Khatri to select GM for Nepse on August 1.

The selection committee had taken interviews of the short-listed five possible candidates. In addition, after studying their business plans, the committee recommended three possible candidates to the MoF, which the ministry had then forwarded to the Cabinet on Wednesday.