Acharya appointed EPF administrator; selection process in other PE’s also expected to resume

The government has appointed Krishna Prasad Acharya to the post of administrator of the Employees Provident Fund (EPF).

A meeting of the Cabinet held at the Office of the Prime Minister and Council of Ministers, Singha Durbar on Monday took a decision to this effect.

Acharya, who was previously working as deputy chief officer at EPF, will get a five year tenure as the chief administrator of the EPF which has an estimated reserve fund of Rs 3.15 billion.

The Chief Executive Appointment Recommendation Committee, a panel formed to recommend candidates for the post of chief executives in public enterprises, had on August 25 recommended the Cabinet to select one among the three candidates it had finalized for the post - Krishna Prasad Acharya, Radha Krishna Pote, acting chief officer at EPF, and Sushil Kumar Aryal, manager at Citizen Investment Trust.

Public Enterprise Board started the selection process after the Election Commission (EC) decided to withdraw the ban on appointing chief executives in public enterprises (PEs).

With the appointment of Acharya, the selection process in other PE’s is expected to resume gradually.

EPF has tens of billions of rupees in fixed deposit in Banks, government bond and has invested hundreds of millions in buildings, shares and fixed assets. nepalnews.com