Meeting Of The Four-Member Committee Established To Provide Recommendations For Capital Market Reform Was Held 11 Days Late; Investors Are Questioning The Committee's Credibility

On the day of the 30th anniversary of the Securities Exchange Board of Nepal (SEBON), Finance Minister Janardan Sharma summoned Nepal Rastra Banj (NRB) Governor Maha Prasad Adhikari and Securities Board Chairman Ramesh Kumar Hamal to the Ministry of Finance and directed them to form a committee to resolve market problems. The Finance Minister had announced the formation of a four-member team. The task force consisted of four members is coordinated by the members from the SEBON, Ministry of Finance (MoF) and NRB.

However, the committee set up by Finance Minister Janardan Sharma to look into the matter and give recommendations for capital market reform has started its work only after 11 days The committee has been completed after the Ministry of Finance sent Deputy Secretary Indra Bahadur Devkota as a member of the committee. According to coordinator Vinay Dev Acharya, the committee's first meeting was conducted yesterday following the completion. Because the Ministry of Finance did not send a representative to the committee, the meeting could not be convened until now.

NRB has sent Deputy Director Subash Acharya to the committee with Executive Director Acharya as the coordinator and Deputy Executive Director of the Board Rupesh KC as the member secretary. Shareholders, on the other hand, have expressed reservations about the committee's legitimacy. According to investors, the lack of a representation from the investor side in the committee constituted to recommend market reforms, confirms that the government is not serious about resolving capital market challenges.