Lalitpur, June 8
Minister for Finance, Dr. Prakash Sharan Mahat, has said
that the stock market should not be used as a means of benefiting certain
people.
Speaking at the 31st Anniversary Programme of the
Securities Board of Nepal (SEBON) in Lalitpur on Thursday, he said, "The
biggest responsibility of the board is to protect those who have invested in
the stock market to see if there will be more benefits or if something positive
will happen tomorrow."
Stating that provisions announced in the budget of the next
Fiscal Year 2023/24 were not aimed at bringing the ordinary investors under the
income tax, FM Dr. Mahat said that the rumour that spread in the stock market
that all 5.6 million investors would come under the net of income tax was wrong.
According to him, the stock market has a great attraction
for the common people as a means of investment and income generation.
Therefore, the responsibility and liability of the board has been increased
since it has to protect the interest of 5.6 million investors.
Pointing out the need for the SEBON to carry out the work of
regulation with utmost importance, Dr. Mahat expressed his commitment to leave
no stone unturned to make the stock market cleaner, broader and ensure the
safety of investors.
He also said that the stock market should be made
competitive, and the SEBON should adopt an automated system and make sure that
no one gets unexpected benefits.
Speaking on the occasion, Chairman of the SEBON, Ramesh
Kumar Hamal, expected favourable cooperation from FM Dr. Mahat as the capital
market regulator was undertaking multiple reforms and taking various initiatives
to develop the market in the near future.
"The Board has reduced the CASBA fee by half. Broker's
license has been issued to all eligible candidates without setting any quota
and number of brokers will reach 93 within next two months," he said.
According to him, a complete ecosystem would be created by
including the bank's sister organizations in venture capital and private equity
sector.
On the occasion, the Board awarded journalists Lok Bahadur
Chapagain and Ambika Sharma with Capital Market Journalism Award. Both of them
received Rs. 50,000 each. Finance Minister Dr. Mahat felicitated them with
certificates and shawls.
Published in The Rising Nepal daily on 9 June 2023.
No comments:
Post a Comment