Ministry of Finance removes age limit for becoming chief executive officer in public bodies

Kathmandu. The Ministry of Finance has removed the age limit for becoming the Chief Executive Officer in a public body.

The age limit was removed by making the second amendment on Falgun 27, 2073 in the criteria for the appointment and nomination of officials and members of public bodies affiliated to the Ministry of Finance. The second amendment means that now there will be no age limit for the appointment of officials and members in public bodies affiliated to the Ministry of Finance.

Earlier, in point 3 of the criteria, there was a provision that the age of the Chief Executive Officer should be 30 years and the age of the other officials and members should be 35 years and not more than 65 years. However, this provision has been removed through the Second Amendment.

In a public body, the term “executive head” should be understood as the chairperson, chief executive officer, executive director, managing director, administrator member secretary, executive director or general manager. Member means a person appointed or nominated as a member of a public body.

Previously, the first amendment to the criteria was made on 29 Bhadra 2075.

Currently, the Ministry of Finance affiliated institutions are Nepal Rastra Bank, Nepal Securities Board, Nepal Insurance Authority, Citizens Investment Fund, Employees Provident Fund, Nepal Stock Exchange, National Insurance Corporation, National Life Insurance Company, Nepal Reinsurance Company, National Commercial Bank, Agricultural Development Bank, Nepal Bank, Deposit and Credit Guarantee Fund, Rural Development Microfinance Institution and NIDC Development Bank. It seems that the Ministry of Finance is not aware of the name changes of some of these public bodies, such as the former Insurance Committee, the National Insurance Company, and the Rural Development Bank.

First revision of the criteria