June 9: A four-member committee led by executive director of the Securities Board of Nepal (SEBON) has been formed to carry out a study of the existing situation of the capital market, said Finance Minister Janardan Sharma.
Addressing the 30th anniversary of SEBON on Wednesday, Finance Minister Janardan Sharma informed that the four-member committee was formed to study the existing situation of the capital market in Nepal and seek it suggestions.
He said that a meeting involving the finance ministry, governor of the Nepal Rastra Bank and the SEBON chair at the Finance Ministry on Wednesday took a decision to form the committee. According to the minister, the committee has been tasked with the responsibility of providing suggestions to end the problems faced by the capital market.
Other members of the committee include a representative each from the finance ministry and the central bank while a representative of the SEBON is the member-secretary of the committee. This initiative is expected to help the formulation of monetary policy and end problems faced by the capital market.
On the occasion, Finance Minister Sharma said the budget for the next fiscal year has stressed on further strengthening the capital market. It has also covered an array of related subjects like making legal arrangements for non-resident Nepalis to invest in Nepal's secondary market and the reservation of 10 percent quotas for Nepali migrant workers in every sale of IPO shares.
The minister reiterated his commitments on behalf of the government to carry out reforms in the capital market and protect investors. He also directed regulators to increase awareness and knowledge of investors about the market.
On the occasion, the SEBON Chair Ramesh Hamal informed about activities and progress of the SEBON. -- RSS