Saud NEPSE’s new GM

People's Review - - NEWS - By Our Re­porter

The gov­ern­ment has appointed Chan­dra Singh Saud as the gen­eral man­ager of Nepal Stock Ex­change Lim­ited (NEPSE). A Cab­i­net meet­ing held on Mon­day took the de­ci­sion to this ef­fect. Saud has been appointed for a term of four years. The gov­ern­ment se­lected Saud among three can­di­dates as per the rec­om­men­da­tion of the Fi­nance Min­is­ter Gya­nen­dra Ba­hadur Karki him­self in the Cab­i­net. Saud was for­mer gen­eral man­ager of Nepal In­sur­ance Com­pany. Ear­lier, the Fi­nan­cial Sec­tor Man­age­ment Coun­cil, un­der the Fi­nance Min­istry, had se­lected three can­di­dates out of five can­di­dates. Manoj Gyawali, Deputy Chief Ex­ec­u­tive Of­fi­cer of Jy­oti Bikash Bank, and Pro­fes­sor Pramod Raj Sharma were in the fi­nal race with Saud. Ini­tially, a to­tal of 13 can­di­dates had ap­plied for the post. How­ever, the Cab­i­net failed to ap­point new gen­eral man­ager of Gorkha­p­a­tra Cor­po­ra­tion. It was re­ported that eight per­sons in­clud­ing a few jour­nal­ists had ap­plied for the post of GM in the state-owned me­dia house. Mean­while, the gov­ern­ment de­cided to amend the pro­ce­dure re­lat­ing to pro­vid­ing house build­ing loans to the earth­quake vic­tims. Ac­cord­ing to Min­is­ter Karki, the gov­ern­ment is pre­par­ing to amend the pro­ce­dure from the pre­vi­ous pro­vi­sion of re­ceiv­ing home loans only on the ba­sis of col­lec­tive surety by en­sur­ing col­lat­eral surety. Banks have been deny­ing loans to the quake vic­tims only on the ba­sis of col­lec­tive surety. The earth­quake vic­tims fol­low­ing the new pro­vi­sion can get loans of up to Rs. 300,000 by keep­ing their house un­der con­struc­tion as col­lat­eral in the banks. Loans to be pro­vided to the vic­tims are free of in­ter­est.

Newspapers in English

Newspapers from Nepal

© PressReader. All rights reserved.