Kathmandu. The government has dismissed Bhishma Raj Dhungana, chairman of the Nepal Securities Board. The cabinet meeting held on Tuesday decided to dismiss Dhungana, who was involved in the best cement share case.

Dhungana was accused of buying the shares of the founder of Sarvottam Cement in the name of his daughter after he became the chairman of the board. The Council of Ministers had asked Dhungana on September 26 for an explanation. A minister who was present at the meeting said that his explanation was not satisfactory.

The government led by the then Prime Minister KP Sharma Oli had appointed Dhungana as the chairman of Cebon for four years in December, 2008.