RBB ADVERTISES FOR CEO

RBB ADVERTISES FOR CEO

Kathmandu, 14 June: Rashtriya Banijya Bank (RBB), a wholly owned government bank—also the biggest commercial bank—has advertised for a CEO to run the bank for the next four years.
The chief executive must be a Nepali national
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CHARGED POLICEMEN DEMAND REVIEW OF SUDAN SCAM


Kathmandu, 14 June: Fifteen police officers among 34 charged by CIAA in the Rs. 280 million Sudan scam trooped to chief of parliament’s the state affairs committee chairman Ramnath Dhakal Monday and demanded a review saying they were innocent.
They asked the committee to start a fresh probe saying they were innocent
CIAA has filed charges at a special court against 34 police officers, including three former IGPs and two contractors who supplied faulty armed personnel carriers (APCs) and logistics to Nepal Police peacekeepers with the UN in Darfur, Sudan.
‘It can’t be imagined former home ministers and home ministry officials aren’t involved in such a big scam. The committee’s study and the CIAA’s investigation don’t match<” Dhakal said.
The committee probed the scandal for six months.
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COMMITTEE PROPOSES Rs.30 BILLION COMPANY
Kathmandu, 14 June: The committee, which was set up on June 5 to formulate regulations for soon-to-be-formed energy sector-focused financial institution, has proposed a company with authorised share capital of Rs 30 billion, Ramesh Prasad Bhushal writes in The Himalayan Times.

“The major promoters of the company will be the Ministry of Finance, Ministry of Energy, Ministry of Law and Justice, Nepal Telecom, Employees’ Provident Fund, Rastriya Beema Sansthan and Citizen’s Investment Trust. The general public will hold 10 per cent share in

the company,” mentions a draft document prepared by the

committee, which has been obtained by this daily.

The proposed name of the institution is Hydropower Development and Investment Public Limited Company. Last week the government had formed a six-member panel headed by former water resources secretary Surya Nath Upadhya and given two-week time to complete paperwork for the establishment of a financial institution that will focus on hydropower sector.

The panel comprises secretaries from the Ministry of Energy, Ministry of Finance, Ministry of Law and Justice and the Office of the Prime Minister and governor of Nepal Rastra Bank.

Neither officials at the Ministry of Energy nor members of the committee made any comment regarding the draft document, which is set to be made public on June 15.

“Drafting process is in the final stage. It will be made public soon,” said Energy Minister Gokarna Bista, refusing to specify when. “The Cabinet had set two-week time for the committee, and it is working on the draft.”

According to the draft document, the chief executive officer of the company will be appointed through free competition and the board of directors will have eight members.

The document also has proposed a management group to be set up by board of directors and the group will be entrusted with the task of carrying out day-to-day business of the company — from the date it is established till a CEO is appointed.

The management group will have the joint secretary from the Ministry of Finance or Ministry of Energy as the coordinator. Other members will include secretaries from MoF and MoEn and Nepal Rastra Bank, according to the document.
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