Agitating investors end their 'fast onto death'

Kathmandu, June 24

Coordinator of struggle committee formed for the expansion and reform of the capital market, Tilak Koirala, ended his 'fast onto death' on Friday.

He had been staging a sit-in at the entrance of the Securities Board of Nepal (SEBON) at Khumaltar in Lalitpur for the last 10 days asking the capital market regulator to address various 19-demands.

Chairman of the Board Ramesh Kumar Hamal fed him juice to end the fast, said SEBON in a statement.

It said that some of the demands of the share investors are in the course of implementation while a few of them will be addressed in the near future. However, since some of the demands require coordination among the regulators of the capital and financial markets as well as the government, board and protestors have reached an agreement to forge necessary collaboration to fulfil those demands.

To implement the agreement, a committee is formed with the participation of SEBON and investors.

According to Hamal, investment from the non-resident Nepalis and reservations for migrant Nepali workers in the stock market would be facilitated soon.

Likewise, creating the SMEs platform at the Nepal Stock Exchange Limited (NEPSE) is also at the final stage. The NEPSE has formulated the procedure for it and a team currently is at the Indian stock exchange to get the technical know-how of it.

The board is also positive about addressing the confusion created by the halt of share trading for about a year during the merger or acquisition of the companies listed at the NEPSE.

Likewise, process to increase the capital of share brokers, tax discount on capital gain from the shares trading and issuing the Initial Public Offering of the NEPSE are in full swing.

Published in The Rising Nepal daily on 25 June 2022.