. Prime Minister Balendra Shah held discussions with stakeholders of capital market, securities business and insurance sector.
The meeting held at the Office of the Prime Minister and Council of Ministers, Singha Durbar, on Monday discussed the present situation of capital market, the need for reform, policy provisions and issues related to the overall economy. The meeting was attended by Securities Board of Nepal (SEBON) Chairman Gopal Bhatta, Chairman of Nepal Stock Exchange (NEPSE) Amrit Lamsal, Chairman of Stock Brokers Association of Nepal Sagar Dhakal, Sandip Jalan of NASA Securities, Sitaram Thapaliya, Chief Executive Officer of Nepal Life Insurance Nawaraj Silwal and Chief Executive Officer of Nagarik Stock Dealer Company Limited Maheshwor Lal Shrestha.
Priya Raj Regmi and others were also present.
Talking to media persons after the meeting, SEBON Chairman Gopal Bhatta said that the meeting discussed the reforms required for the development and expansion of the capital market. According to him, the meeting discussed policy and legal reforms related to Nepal Rastra Bank, Securities Board of Nepal, Nepal Stock Exchange and Ministry of Finance.
According to him, the Prime Minister showed his concern on the development, expansion of capital market and boosting the morale of the investors.
“We have discussed the reforms to be done in the capital market,” he said.
Discussions were held on the issues to be carried out by Nepal Rastra Bank for the development and expansion of capital market, reforms to be carried out by the Securities Board of Nepal, issues related to the stock exchange and policy and legal reforms to be carried out by the Ministry of Finance. The Prime Minister listened to all these issues seriously. He assured that the Prime Minister’s Office would play the necessary role for the development and expansion of the overall capital market and to boost the morale of the investors. “
According to Bhatta, the Prime Minister was of the view that capital market should be developed as an important medium of capital mobilization which would help create employment opportunities and support the economy.
Bhatta said that the discussion focused on how to make the market healthy, transparent and effective in the long term rather than the recent developments seen in the capital market. During the meeting, suggestions were made to improve the morale of investors, maintain balance between demand and supply in the market, increase the role of institutional investors, simplify the arrangement of margin lending, bring investment of Non-Resident Nepalis (NRNs) and make the stock exchange technology-friendly. Likewise, the meeting also discussed reforms in the initial public offering (IPO) system under the Securities Board of Nepal, review of the 10-unit application system, streamlining the book building process, conducting intraday transactions and developing new transaction tools.
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