Investors predict better days ahead

KATHMANDU, JUNE 3: 

Investor associations have predicted better days for the capital market following finance ministry’s attempt to improve market conditions. 

Three investor associations that had jointly announced their step-wise protest programme starting April 5 have withdrawn their protests, they informed in a press conference today. Nepal Investors’ Association, Nepal Investor Forum and General Investors’ Association had launched protests with a 13-point demand to the government and concerned bodies.

The ministry along with Nepal Rastra Bank, Securities Board of Nepal, Insurance Board, and Nepal Stock Exchange made an agreement to implement the nine demands on Thursday. 

“We are hopeful that the ministry and concerned bodies will implement the agreement within the next one month,” expressed president of General Investors’ Association Dinesh Karki. 

The ministry has asked the regulators to allow margin type lending through brokers, prepare guidelines for investment by institutional investors in one month, operate CDS by mid-July and bring buy back option by the companies themselves for shares that have plunged below face value among others. 

Source: THT