Gopal Prasad Bhatta sworn in as SEBON chairman
KATHMANDU: Finance Minister Dr Swarnim Wagle today administered the oath of office and secrecy to Dr Gopal Prasad Bhatta, the newly appointed chairman of the Securities Board of Nepal (SEBON).
The Cabinet appointed Bhatta as SEBON chairman at its meeting on June 29. After the oath-taking ceremony at the Ministry of Finance in Kathmandu, Minister Wagle urged the new chairman to work honestly for the safety and benefit of investors’ funds and to prioritise investor protection and capital mobilisation to sustain economic growth.
Minister Wagle instructed Bhatta to submit daily, weekly, monthly, six-monthly and annual plans to carry out capital-market reform initiatives and to counteract rumours that have created fear among small investors.
"Protect the investments of capital market investors without falling prey to any greed or influence," Finance Minister Wagle said. "I am with you. The government will extend all forms of cooperation. Create an environment to steer towards economic growth through capital mobilisation."
"Implement capital-market reform plans by setting a timeline. Efficiently fulfil the regulatory role while building confidence in the market," he added. "There will be no interference of any kind from the Ministry. Do not just talk a lot; work for results. I need a weekly briefing on the market."
Responding to the minister, SEBON Chairman Bhatta pledged to work honestly for the development of the capital market in line with government priorities. He said he would use his knowledge, experience and skills to benefit market investors and support the government’s economic growth targets.
Bhatta added that he would pursue continuous market development by implementing various studies and recommendations made over time for capital-market reform.
(With inputs from RSS)
