Work underway to make capital market better managed, transparent: SEBON Chair Bhatta

KATHMANDU: Securities Board of Nepal (SEBON) Chairman Dr Gopal Prasad Bhatta has said work is underway to make the capital market better managed and more transparent.

Speaking at a meeting of the Finance Committee of the House of Representatives on Wednesday, he said, "The Board is committed and continuously working to make Nepal's capital market organised, transparent, credible, and investment‑friendly."

Bhatta told MPs that discussions are ongoing with relevant authorities and organisations on the issuance, listing, market operation and regulation of securities, and on protecting investors' interests. He said SEBON is preparing policy improvements and legal reforms, including checklists and other requirements for issuing primary shares of new companies.

Joint Secretary at the Ministry of Finance, Mahesh Acharya, said the Ministry will regulate the capital market through a 21‑point action plan.

MP Parshuram Tamang said the government needs to keep the capital market active alongside the wider economy, while MP Sushil Khadka warned that the large number of investor associations has obscured the market's real problems.

Representatives of investor groups and market bodies urged timely updates to rules and technical fixes. Hari Bahadur KC, president of the Nepal Share Market Investors Association, said acts and regulations related to SEBON need to be updated on time. Ajay Kumar Shrestha, a share market investor, said the practice of being both a stockbroker and an investor should end. Khagendra Raj Kandel, general secretary of the Nepal Share Market Investors' Association, said the Nepalese stock market must be updated in line with strategic plans adopted by global capital markets.

Kanchan Sapkota, CEO of CDS and Clearing, said they are trying to organise operations using information technology. Liladhar Subedi, officiating CEO of Nepal Stock Exchange (NEPSE), said recent efforts have been made to resolve technical issues at NEPSE. Nitesh Kumar Agrawal of the Stock Broker Association of Nepal (SBAN) said the provision of 10‑unit shares in the primary market should be implemented promptly.