Saturday Feb 24, 2024
Saturday Feb 24, 2024

SEBON promotes investment for 5.6 million investors: Minister Mahat


Nepalnews
RSS
2023 Jun 08, 13:45, Kathmandu
The Annapurna Express

Finance Minister Dr Prakash Sharan Mahat has said the Securities Board of Nepal (SEBON) has a significant role in the investment sector.

In his address to the 31st anniversary of the SEBON here today, the Minister was of the view that the share market had its special charm in view of investment and income. So the roles and responsibilities of the Board have obviously increased.

It was the responsibility of the Board to ensure the security of 5.6 million investors in the capital market, the Minister said, hoping that it would highly prioritise its roles and responsibilities and fulfil them accordingly. "The Board is expected to play a role to further promote the share market," he said.

The Minister utilised the forum to say that he was ready to extend full support to make the capital market healthier, comprehensive, more competitive and safer. He made it clear that provision about the share market in the budget for the upcoming fiscal year was misinterpreted and mistaken. "It is not aimed to impose tax on general investors."

Stating that the stock market should never be the means of providing financial gains to a certain community, he said the Board is responsible to protect the investments of mass investors. "The Board shall go to an automated system," he said, presenting an idea of incorporating the commodity market in the share market. He advised the SEBON to completely make its business paperless and ensure that none is capable of taking unexpected gains in the share market.

He was of the view that the Nepal Rastra Bank also could play its role in promoting healthy competitions in the share market. "The government is supportive of the stock market, but it wants to prevent a specific group from unfairly benefitting from it in the name of 5.6 million investors."

The Finance Minister advised the SEBON management to fully utilise the information technology, pledging the government support to the SEBON to shift to a new building soon.

SEBON, established June 7, 1993 as the government entity, functions as an apex regulator of securities markets.

READ ALSO:

Dr. Prakash Sharan Mahat Board of Nepal SEBON minister share market market healthier comprehensive more competitive Nepal Rastra Bank
Nepal's First Online News Portal
Published by Nepalnews Pvt Ltd
Editor: Raju Silwal
Information Department Registration No. 1505 / 076-77

Contact

KMC-02, UttarDhoka,
Lazimpat, Nepal

Newsroom
+977–01–4445751 / 4445754

E-mail
[email protected] [email protected]

Terms of Use Disclaimer
© NepalNews. 2021 All rights reserved. | Nepal's First News Portal