Nepal's Electricity Regulatory Commission to Introduce Corporate Governance Standards for Licensed Entities
Summary
Nepal's Electricity Regulatory Commission is introducing new corporate governance standards for licensed entities to enhance transparency, accountability, and risk management in the electricity sector.
Key Points
- The Electricity Regulatory Commission of Nepal is set to introduce corporate governance standards for licensed entities under the 'Standards Related to Corporate Governance of Licensed Entities, 2082'.
- The draft mandates transparency and competitiveness in public procurement and prohibits conflicts of interest in construction and consultation related to license holders' projects.
- It requires provisions for female board representation, independent directors, and directors' recusal in conflicts of interest.
- The standards include mandatory accounting systems, risk management classifications, insurance, human resource management, corporate social responsibility, and regulatory inspections.
