In Monday's closed session, General Secretary Bishwa Prakash Sharma mentioned in his report that irregularities in the appointment of regulatory bodies will be stopped.
What you should know
At the ongoing special general convention of the Nepali Congress in Kathmandu, it has been announced that the appointment process of regulatory bodies including the Securities and Exchange Board of Nepal and the Insurance Authority will be made transparent.
In the closed session of the Bar, General Secretary Bishwaprakash Sharma mentioned in his report that irregularities in the appointment of regulatory bodies will be stopped.
‘The appointments to regulatory bodies such as the Securities and Exchange Board of Nepal, the Insurance Board, and the Insurance Authority were not made properly. As a result, such bodies could not provide the good governance that they should regulate. Such bodies became a source of financial irregularities,’ Sharma’s report said, ‘When appointing regulatory bodies, open applications will be requested, shortlisting of qualified persons from such applications will be done, their past performance and conflict of interest will be checked, and only those who have passed all the processes of citizen vigilance of such persons will be recommended after interaction with the general public.’
Sharma also mentioned that the regulatory bodies will be brought under the purview of the Parliament to strengthen the institutional capacity of such bodies and ensure their autonomy.
Similarly, Sharma has also raised the issue that when the government allocates budget, it is much more in the constituencies of certain influential leaders than elsewhere. ‘Questions on such issues have been raised in Parliament itself, in the media,’ he said, ‘A system will be developed to allocate budget allocations based on the principle of equity and giving priority to remote and remote areas.’
Similarly, the basis of good governance is policy priorities, evidence-based decisions, and protection of public interest. However, Sharma said that these foundations are weak when looking at the practice of budget allocation in Nepal. A project of national pride like Budhi Gandaki, which is directly linked to the country’s energy security, industrialization, and long-term economic transformation, has been stalled for decades due to lack of resources.
But at the same time, two international airports were built nearby, where passenger, flight, and economic viability are in question. More seriously, more than two dozen blacktop airports across the country are unused.
