CIAA sent a secret letter to the Ministry of Finance, why are the representatives of the finance directors of Sebon silent in the meeting? (With letter)

Kathmandu. Employees of the Securities Board of Nepal (SEBON) have been on strike for the 41st day.

Employees have been protesting against the decision of the Ministry of Finance for the last 41 days. The employees in the board have been agitated due to a letter written by the revenue secretary citing the Commission for the Investigation of Abuse of Authority (CIAA) on September 18.

Before the secretary sent the letter to the board, the CIAA has sent an 8-page highly confidential letter to the ministry. The letter also raises the issue of the Joint Secretary of the Ministry of Finance being a representative of the Board of Directors and the representative of the Ministry of Finance has remained silent on the decision taken by the Board.

The Securities Board of Nepal (SEBON) has filed a complaint alleging irregularities in the establishment and operation of the Employees Welfare Fund and Employees Protection Fund in accordance with the Securities Board of Nepal Employees Welfare Fund Work Procedure, 2071 BS and the Securities Board of Nepal Employees Protection Fund (Operation and Management) Work Procedure, 2075 BS.

During the course of the investigation, it has been found that the procedures were in violation of the legal provisions mentioned in Section 116 of the Securities Act, 2063, Section 13 of the Bonus Act, 2030, Government of Nepal (Division of Work) Regulations, 2074 and Rule 167 of the Securities Board Employees Service Conditions Regulations, 2068.

It has also been found that the consent of the Ministry of Finance was not taken before issuing the procedures for the establishment and operation of the funds, and the investigation report of the Ministry has also stated that the Employees Welfare Fund and Employees Security Fund have been arranged by the Securities Board of Nepal without the consent of the Ministry of Finance.

The Board of Directors consists of the Joint Secretary of the Ministry of Finance as a member of the Board of Directors. “The ministry is also represented as a member of the board of directors, but the officials representing it seem to have remained silent on this issue,” the letter reads, adding that no action has been taken by the Ministry of Finance, the regulatory body, for operating the fund against the law । ’