The Nepal Stock Exchange (NEPSE) has been operating without a chairperson for weeks as the Ministry of Finance struggles to finalize internal appointments.
Although the post is reserved for an undersecretary from the Ministry itself, disputes over portfolio distribution among senior officials have delayed the selection. A source close to the Ministry revealed that several undersecretaries currently have no specific responsibilities, yet the chairperson for NEPSE has not been assigned.
The indecision has reportedly put Finance Minister Barshaman Pun in a tough spot, as discussions continue over who should be given the NEPSE leadership role.
A former NEPSE chair, Shobhakant Paudel, was transferred to serve as the Auditor General, leaving the post vacant. In his absence, day-to-day operations at NEPSE have slowed down, and the long-awaited SME trading platform remains stuck in limbo.
Insiders suggest the position has become more politically sensitive, especially with foreign visits and restructuring plans linked to the NEPSE chair. These perks are believed to have made the appointment more contentious.
This is not the first leadership gap in Nepal’s capital market institutions. The Securities Board of Nepal (SEBON) remained without a chair for over a year in the past, and NEPSE’s CEO post was vacant for six months.
For now, stakeholders await whether a chairperson will finally be appointed by the end of this week, as hinted by ministry insiders.
