The government on Nov 11 appointed Raman Nepal as the executive director of Citizen Investment Trust (CIT).

The Ministry of Finance (MoF) had published a notice calling for appli­cations for the top post of CIT on September 24. Altogether five can­didates had filed applications for the post of the executive director.

The post of the exec­utive director had been lying vacant after for­mer executive director Ramkrishna Pokharel tendered his resigna­tion in August. After Pokharel’s resignation, the MoF had appointed Chandra Kala Poudel, joint secretary at MoF, as executive director of CIT on a temporary basis.

At present, CIT operates retire­ment fund, CIT unit scheme, pen­sion/gratuity fund, investors A/C scheme, civil employee’s insurance fund, teachers insurance, army employee’s insurance fund, police employee’s insurance fund, APF employee’s insurance fund, reserve fund and other institutional employ­ee’s insurance fund. CIT currently has 609,374 members with funds worth Rs 109.84 billion.