KATHMANDU: The government has formed a recommendation committee to appoint the chair of the Nepal Insurance Authority, the regulatory body overseeing the nation’s insurance sector.
A meeting of the Council of Ministers on Tuesday decided to form the committee under the coordination of the National Planning Commission member responsible for the relevant sector.
This decision follows a vacancy in the authority’s leadership after former chair Surya Prasad Silwal was involved in a corruption case.
Silwal faced allegations of falsifying his age to extend his tenure and was charged with corruption under the Prevention of Corruption Act, 2002.
The Commission for the Investigation of Abuse of Authority (CIAA) accused him of forging documents, including his date of birth, to obtain a passport with a reduced age, resulting in financial discrepancies exceeding Rs 3.6 million. The charges were filed on December 9 at the Special Court.
Silwal, whose term was set to end on February 1, had been serving beyond the retirement age of 65, officially reached on July 21, 2023.
Following that, the Ministry of Finance appointed Joint Secretary Madan Dahal as acting chair.
Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel entrusted Dahal with overseeing the authority’s operations until a permanent appointment is made.
Comment