The appointment of the Chairperson of the Nepal Securities Board (SEBON) has once again become a topic of controversy, with former Finance Minister Barshaman Pun renewing allegations of influence from vested interest groups.

According to Pun, the issue of appointing key officials, including the SEBON chairperson, was one of the factors that contributed to the collapse of the government led by former Prime Minister and Maoist Centre Chairman Pushpa Kamal Dahal on July 12, 2024.

Pun claimed that there was significant pressure to appoint individuals linked to specific interest groups within the securities regulator. He stated that efforts to resist such influence created political tensions that eventually contributed to the government's downfall.

The former finance minister further alleged that the government formed after their departure went on to appoint individuals favored by those same groups. He argued that the integrity and independence of regulatory institutions should be protected from external influence.

Pun has also raised concerns regarding the current appointment process. More than three weeks have passed since three candidates were recommended for the SEBON chairperson position, yet the government has not made a final decision.

The delay has fueled speculation among market participants and stakeholders. Pun expressed concern that the same patterns of influence and lobbying seen in the past may still be affecting decision-making today.

Market experts emphasize that appointments to key regulatory bodies should be transparent, merit-based, and free from undue influence in order to maintain investor confidence and support the long-term development of Nepal’s capital market.