Kathmandu. The two main regulatory bodies are now without leadership.

Chairman of the Securities Board of Nepal (SEBON) Santosh Narayan Shrestha has resigned from his post on Friday. With this, the board has become leaderless. The then KP Oli-led government had appointed him the chairman of the Securities Board of Nepal on November 24, 2081. President Shrestha has served in the Board for about 16 months.

Meanwhile, the Insurance Authority has been without leadership for the past 8 months. On August 2, the KP Oli-led government had sacked Ojha from the post of chairman Sharad Ojha. Ojha was sacked after the committee submitted a report with the conclusion that the documents submitted by him at the time of appointment were suspicious. Since then, there has been a lack of leadership in the NRA.

After Ojha’s dismissal, the government appointed Sewantak Pokhrel, joint secretary at the Ministry of Finance, as the acting chairman. He stayed with the authority for about 2 and a half months. After this, the government sent Janak Raj Sharma as the chairman for about 4 months.

Chandrakala Poudel, secretary of the Ministry of Federal Affairs and General Administration, has been appointed as the chairperson of the government on January 27. Even after 8 months, the government has not been able to elect the chairman through open competition.

It is said that due to the government’s negligence in the main regulatory body in the financial sector for a long time, there will be a delay in the decision-making process and the possibility of the service seekers not getting the service on time.

As the government has not been able to appoint a chairman in the NRA, the claim of the Hotel Hilton, which was torched and vandalized during the Genji agitation, has not been decided yet.