Nepali Investors Allege Govt. Failure in Fin Market, Demand Upliftment

According to investors, the government has ignored has been ignoring 1.7 million share investors
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Nepali Investors Allege Govt. Failure in Fin Market, Demand Upliftment

In a move addressing investors’ concerns, a group of investors are staging protests in Nepal demanding the measures to fulfil promises made to them by the Finance Ministry.

The investors have been on a hunger strike in front of the Nepal Stock Exchange (NSE) demanding the resignation of the Finance Minister Yuba Raj Khatiwada and Nepal Rastra Bank (NRB) Director Chiranjeebi Nepal.

Chairman of the Securities Board of Nepal Rewat Bahadur Karki, NSE Chair Laxman Neupane and Insurance Board Chairman Chiranjeebi Chapagain were among other officials targeted by the investors.

“The promises which the government authorities have been making for the improvement and upliftment of investors for last three-four years have not been fulfilled. We demanded swift implementation of measures to protect the interests of investors, but the government did not pay any attention. As a result, we have started the hunger strike to pressurize the government,” says Koirala, a senior economic journalist.

Koirala alleged that the Finance Ministry failed to bring in reforms in the national stock market situation.

“Finance Minister Yubaraj Khatiwada and the head of other regulatory bodies do not want to expand and improve the financial market because of which, we are now facing forced to go on a hunger strike demanding their resignations,” Koirala adds.

“The veteran economist is himself the Finance Minister. He is well aware of the issues but is acting indifferently. He has been ignoring 1.7 million share investors,” says Sushma Dhungana, one of the investors in the national stock market.

The investors published their 14-point demands calling reformation in the capital market, protection of investors and creating an investment-friendly environment in the country.

The group stands committed to continuing their protests until their demands are accepted.

What does the government have to respond on this? Let’s see!

December 19, 2018 |

 
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