सिंहदरबार संवाददाता
Kathmandu. The issue of corruption in the new stock exchange license has entered the parliament. Opposition party lawmakers have said that new stock licenses are being given to middlemen and vested interests through illegal means.
The National Independent Party has accused the government of corruption and taking land as collateral worth five billion rupees while issuing new stock exchange licenses. Speaking in the House of Representatives on Sunday, Rashtriya Swatantra Party leader Ganesh Parajuli said that the parties in the government have taken land as collateral in the name of issuing new stock licenses.
Speaking in parliament, MP Parajuli said, “The process of issuing new stock exchange licenses has been moving forward rapidly in recent days. The Rashtriya Swatantra Party has said in its promise letter. Only if there are competitive service providers can the people get quality services. Therefore, the establishment of a new stock exchange is also our demand. But a competitive institution cannot be established without being involved in bribery and corruption scandals. It is not that the air that land was donated as collateral for the stock exchange license has not spread. Apart from that, the Prime Minister’s statement about the game of up to 5 billion is clear. However, I strongly condemn the path taken by the government to grant licenses, which is under consideration in the Constitutional Bench of the esteemed court and is also under consideration in the Commission for the Investigation of Abuse of Authority. I would like to request the government to appear in this esteemed house and give a clear answer to this.”
Speaking in the House of Representatives on Magh 24, CPN-Maoist Chairman Pushpa Kamal Dahal ‘Prachanda’ had said that the government had made an illegal directive to grant new stock licenses to middlemen. Similarly, former Finance Minister Barshaman Pun had said that the government was rushing to grant new stock licenses to feed middlemen. Demands have been raised from all sides to weaken the Nepal Stock Exchange (NEPSE) and to issue new licenses through competitive bidding.
A case has been filed in the Constitutional Bench of the Supreme Court alleging that the process of granting licenses to the new stock exchange is not in accordance with the law. Law student Krishna Bahadur Thapa filed the case on Poush 23, alleging that there was a legal error in distributing the new stock licenses. The next hearing of the case, registered with registration number 081-wc-0035, has been scheduled for Falgun 21.
The first hearing was scheduled for Magh 9, but the hearing could not be held due to lack of time. The writ petition is now being heard on Falgun 21 in a bench headed by Chief Justice Prakash Man Singh Raut of the Supreme Court. The senior-most judges in the constitutional bench headed by the Chief Justice are Sapana Pradhan Malla, Kumar Regmi, Dr. Manoj Kumar Sharma and Dr. Kumar Chudal.
The writ petition states that the Nepal Securities Board is trying to establish a corporate body to operate the securities market by misinterpreting Section 118 of the Securities Act, 2063. The hearing of this case has been fixed for Falgun 21.
The writ claims that the board has issued the ‘Directive on providing recommendations from the board to establish a corporate body for the operation of the securities market, 2079’ using its power not provided by law. Since the directive is in conflict with Section 118 of the Securities Act, 2063, it has been demanded to cancel the Directive on providing recommendations from the board to establish a corporate body for the operation of the securities market, 2079.
On 1 Poush 2081, activist Rajan Sharma Parajuli, on behalf of the Youth Campaign against Corruption, has filed a complaint with the Commission for the Investigation of Abuse of Authority, alleging policy corruption in the license of the new stock. The complaint number with the Authority is c-035384/2081/09. Complainant Sharma has claimed to have presented some facts and evidence as to how a five billion rupee commission game is being played in the new stock exchange license case.
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