SEBON marks 31st anniversary

KATHMANDU: Securities Board Nepal (SEBON) organised a programme to mark its 31st anniversary today. Addressing the programme, Finance Minister Prakash Sharan Mahat shared that the share market has its special charm in view of investment and income. So the roles and responsibilities of SEBON have obviously increased, he added. It is the responsibility of SEBON to ensure the security of 5.6 million investors in the capital market, the Minister said, hoping that it would highly prioritise its roles and responsibilities and fulfil them accordingly. "The SEBON is expected to play a role to further promote the share market," he said. Minister Mahat said he was ready to extend full support to make the capital market healthier, comprehensive, more competitive and safer. He asserted that provisions about share market in the budget for upcoming fiscal year 2023/24 have been misinterpreted and mistaken. "It is not aimed to impose tax on general investors." Minister stated that the stock market should never be the means of providing financial gains to a certain community, and added SEBON is responsible to protect the investments of mass investors. "The Board will go to an automated system," he said, presenting an idea of incorporating the commodity market in the share market. He advised SEBON to make its business completely paperless and ensure that none is capable of taking unexpected gains in the share market. In his opinion, Nepal Rastra Bank (NRB) could also play its role in promoting healthy competition in the share market. "The government is supportive of the stock market, but it wants to prevent a specific group from unfairly benefitting from it in the pretext of 5.6 million investors." The Finance Minister advised the SEBON management to fully utilise the information technology, pledging government support to the SEBON to shift to a new building soon. SEBON, established on June 7, 1993, as a government entity, functions as an apex regulator of securities markets. (With inputs from RSS) READ ALSO:

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