Kathmandu, Jan. 27: The Securities
Board of Nepal (SEBON) is still confused about the implementation of the
Personal Account Number (PAN) in the capital market.
Although the government, in the budget
of the Fiscal Year 2018/19, had announced that the investors buying shares in
the secondary market must have PAN, the SEBON is yet to implement it fully.
On Sunday it said that considering the
infrastructure of the market and financial literacy among the investors, it
would inform the Inland Revenue Department – the government agency responsible
to implement the PAN, about the ‘situation’.
It urged the investors not to go after
the rumours and make investment decisions wisely.
The capital market regulator has
directed the Nepal Stock Exchange and CDS and Clearing Limited to make the required preparations for the execution of the PAN provision
announced in the budget.
The SEBON came soft on the execution of
the provision and said that it was conscious to apply the measure after
discussion with the capital market stakeholders and preparation.
The investors on Sunday blamed the PAN
provision for the bearish trend of the stock market. They have submitted a memorandum
on the issue to the SEBON.
Published in The Rising Nepal daily on 28 January 2019.
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