Kathmandu. Kathmandu CPN (Maoist Center) MP Madhav Sapkota has accused the Securities and Exchange Board of Nepal (SEBON) of demanding a commission to approve IPOs related to hydropower projects. Speaking in the parliament meeting on Wednesday, MP Sapkota made this allegation.
He alleges that the board is bargaining for a 5 percent commission with small projects and 7 percent with large projects. He mentioned that the IPO permission of 89 companies of 43 hydropower projects with a capacity of 1009.52 MW worth more than Rs 56.07 billion has been stalled for 22 months because the board is demanding commission.
He mentioned that there is a contradiction between the government’s target of 28,000 MW of hydropower production and the board’s slander and demanded an immediate investigation.
He said, “The Securities and Exchange Board of Nepal bargained for 5 percent commission with small projects and 7 percent with large projects. This is a very serious and sad matter. I would like to draw the serious attention of the Government of Nepal to this.” The government has a target of producing 28,000 megawatts of hydropower, but on the other hand, there is this kind of nonsense from government agencies.
The board urged the Speaker to rule on the government to investigate the matter of the commission being sought.
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