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Kathmandu, Nepal, March 3, 2023: A delegation of the secondary share market investors led by Ambika Prasad Paudel met with newly appointed Minister for Finance Dr. Prakash Sharan Mahat on Monday.
During the meeting, the delegation apprises about the current situation of the Nepalese share market and demanded immediate solution of the problems that the share investors have faced now.
The delegation has also handed over a recommendation paper to the finance Minister Dr. Mahat categorically mentioning the things that have to be addressed to solve the problems faced by the share market investors.
The delegation has demanded formation of study task force including the stakeholders concerned for the improvement of the stock market.
Likewise, they have also demanded to bring into implementation the things outlined in the study reports created by the working groups and sub-committees established in the past regarding stock market reform.
The delegation has also demanded to make a provision of 10 percent of total loan portfolio in listed company’s shares by eliminating the restriction on lending just up to 40 percent of the paid-up share capital.
Lowering of the equity loan's capital risk weight from 150 percent to 100 percent in accordance with the prior law's provisions and permission to the bank financial institutions to purchase shares without engaging in cross-holding in accordance with the provisions of the previous legislation is also demanded during the meeting.
Similarly, the delegation has demanded to expand the network of stock brokers through branches and agents in all 77 districts to expand the share markets across the country.
Earlier day on Sunday, a delegation of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) had also met with the newly appointed Finance Minister Dr. Mahat.
The delegation led by FNCCI president Shekhar Golchha demanded injecting money into the market and reducing the interest rate through the joint initiative of Nepal Rastra Bank (NRB) and the government.
