Kathmandu,
July 20: The Security Board of Nepal (SEBON) Wednesday directed Nepal Stock
Exchange (NEPSE) to reduce the stock brokers' commission on securities
transaction at the earliest.
The
capital market regulator has set the commission of stock brokers to 0.6 per
cent from current 1 per cent for the transaction of securities up to Rs.
50,000.
The
brokers' service charge for Rs. 50,000 to Rs. 500,000 will be 0.55 per cent
while they can charge 0.5 per cent commission for transaction from Rs. 500,000
to Rs. 2 million.
Brokers
have been charging 0.9 per cent service charge for Rs. 50,000 to Rs. 500,000
transaction and 0.8 per cent for Rs. 500,000 to Rs. 1 million transaction.
Similarly,
SEBON has set 0.45 commission for above Rs. 2 million to Rs. 10 million
transaction and 0.4 per cent for any transaction above Rs. 10 million.
The
commission rate for the securities transaction above Rs. 1 million is 0.7 per
cent now.
According
to a press statement issued by the SEBON, the Ministry of Finance has approved
the proposal to reduce the broker's commission.
SEBON
spokesperson Niraj Giri said that as the number of transaction and amount of
securities had been ever increasing, it was pertinent to decrease broker's
commission in order to make the market investor friendly.
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