Kathmandu. Foreign citizens will also be able to work as the Chief Executive Officer (CEO) of the Alternative Development Finance Fund. The bill passed by the Council of Ministers has made provisions to make foreign citizens the CEO.
Section 19 of the bill mentions the Chief Executive Officer. The section states that there will be a Chief Executive Officer to operate, manage and perform the daily administration of the fund. Sub-section (3) has made provisions regarding educational qualifications and Nepali citizenship. Sub-section 3 states, ‘A Nepali citizen who has passed at least a master’s degree in economics, management, commerce, development studies, financial analysis, law, engineering or development administration from a recognized educational institution and has at least fifteen years of managerial experience in infrastructure, project construction and development, public-private partnership, investment promotion, development administration, banking, financial sector, industrial management or international financial sector or organization shall be considered eligible for appointment to the post of Chief Executive Officer.’
The same subsection states in the provision regarding foreign citizens, ‘However, in cases where a Nepali citizen is not available, this subsection shall not be deemed to prevent the appointment of any foreign citizen who has fulfilled the qualifications under this Act for the first time after the commencement of this Act to the post of Chief Executive Officer.’ .
There are many examples of government companies employing foreign management. Similarly, the Alternative Development Finance Fund has also made provision for one-time employment of foreign nationals.
The bill provides for the Chief Executive Officer to be the full-time chief administrative officer of the fund. It is mentioned that his remuneration, terms of service and other facilities can be determined by the board of directors with the consent of the ministry. A three-member recommendation committee consisting of the Governor of Nepal Rastra Bank and the Chief Executive Officer of Investment Board Nepal, under the coordination of the Chairperson of the Public Service Commission, will be formed to recommend to the Government of Nepal and the Council of Ministers for the appointment of the CEO.
There is a provision that the recommendation committee shall determine the selection process itself and recommend the names of three suitable persons for the appointment of the Chief Executive Officer on the basis of competition. Out of the persons thus recommended, the Government of Nepal and the Council of Ministers will appoint one person to the post of Chief Executive Officer. The term of office of the Chief Executive Officer will be four years and he/she may be reappointed for another term.
This is the bill passed by the Council of Ministers
प्रतिक्रिया दिनुहोस्