Kathmandu. The government has backtracked on the decision to grant licenses to new stock exchanges. The government has also backtracked on the decision to grant license to the new stock exchange after the High Level Economic Reform Suggestion Commission led by former secretary Rameshwor Khanal suggested restructuring of NEPSE.
The Economic Reform Implementation Action Plan-2082, formed to implement the recommendations of the Khanal Commission, has also stressed the need to restructure NEPSE by setting a time limit.
Point no. 96 of the implementation action plan states that the Nepal Stock Exchange will be restructured for the participation of the private sector and increase in capital. And the decision to implement this action plan has already been approved by the Cabinet meeting on May 15.
According to the decision of the Council of Ministers, nepse will be restructured within the next one year under the leadership of the Ministry of Finance and the facilitation of the Prime Minister’s Office. In the achievement section of the cabinet decision, it has been written, “The private sector shares will be participated by restructuring the Nepal Stock Exchange.” And its time limit has been set at one year.
The issue of licensing a new stock exchange has been very controversial. Two powerful families are fighting each other over the issue of licensing. At present, Securities Board Chairman Santosh Narayan Shrestha is in favor of distributing stock licenses anyway. However, the government has decided to restructure nepse shares by giving it to the private sector.
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