4 years ago
The report of the sub-committee formed to study the capital market and money market has been passed by the Finance Committee under the House of Representatives.
A meeting of the committee held at Singha Durbar on Friday passed the report of the sub-committee headed by Ram Kumari Jhankri. The committee has also made an arrangement that the employees of Nepal Securities Board and Nepse will not be allowed to fill IPO now.
Similarly, the committee has passed the report in such a way that the employees working in the concerned departments of NRB and Economy should make public their shares before starting work in the department and not be allowed to participate in securities trading while in office.
In the meeting, the lawmakers said that the broker license should be given to the subsidiary company in an ethical manner and in a way that solves the problem rather than doing business in the old way.
Committee member and former finance minister Surendra Pandey said that the limit of Rs 500 million was too small to take a company with a paid-up capital of more than Rs 500 million to a public limited company.
Former finance minister, Pandey said that it would be transparent for the companies going to public limited companies to increase their capital and acquire capital.
Another member of the committee and former finance minister Gyanendra Bahadur Karki said that the report should be implemented after a thorough study. Pandey said that the capital market should be given a license for a new competitive stock exchange.
Coordinator of the sub-committee Ram Kumari Jhankri said that small capital has been suggested to make the hydropower and stone and ballast industries transparent.
Ram Kumari Jhankri also said that the Securities and Exchange Board of Nepal (SEB) and Nepse employees and their shares are being traded now, adding that the service will not be effective.
