Pandey Removed as Director of Insurance Authority

Kathmandu — A government ordinance issued today has led to the removal of Ganesh Pandey, the only non-staff board director of the Nepal Insurance Authority. Pandey, a former secretary, had been appointed under Section 6(1) of the Insurance Act 2022, but has now been relieved of his position following the new ordinance endorsed by the Cabinet.

He was appointed to the board on December 29, 2023, for a four-year term, but was dismissed after serving just four months.

Currently, the authority is being led in an acting capacity by Chandrakala Paudel, Secretary at the Ministry of Federal Affairs and General Administration, who is also handling the responsibilities of the chairperson.

The ordinance has also resulted in the dismissal of board members at the Securities Board.

However, the Balen-led government has yet to act against politically appointed senior officials at Nepal Reinsurance Company, which has been widely criticized for corruption. Likewise, no steps have been taken to remove the CEOs of Rastriya Beema Company and National Life Insurance Company.

Although the Ministry of Finance has urged politically appointed officials in its subordinate agencies to resign, many are reportedly refusing to step down, arguing that they have not yet recouped the large sums they allegedly paid to secure their appointments.