In a strategic effort to stabilize Nepal's fluctuating capital market, Finance Minister Dr. Swarnim Wagle held a high-level consultation with the Stock Broker Association of Nepal (SBAN) at Singha Durbar on Monday. The delegation, led by industry veterans including former president Priyaraj Regmi, urged the government to transition from theoretical promises to the concrete execution of long-standing reform recommendations.
The brokers presented a comprehensive list of structural demands aimed at boosting investor morale. Key among these was the immediate activation of the Settlement Guarantee Fund, which has remained dormant despite regulations dating back to 2018. To protect investors from unfair penalties during share transfer failures, the association called for the rapid launch of an 'Auction Market.' Furthermore, they advocated for the removal of the mandatory six-month holding period following share purchases and requested simplified secondary market access for Non-Resident Nepalis (NRNs).
The meeting also touched upon fiscal clarity, with brokers asking the Minister to officially designate capital gains tax as the final tax through the upcoming budget. Concerns were raised regarding market manipulation, where certain actors allegedly spread rumors to trigger panic selling among small investors. The association emphasized that while investigations into the private sector are necessary, they should be conducted discreetly to avoid damaging business confidence.
Responding to these concerns, Dr. Wagle assured the delegation that the government remains firmly pro-private sector. He clarified that while there would be no immunity for financial crimes, the state would not engage in retaliatory or selective targeting. Highlighting his broader vision, Wagle announced that the forthcoming budget would be the most transformative since 1991, focusing on governance to steer Nepal away from international 'grey listing.' He urged the public to ignore market rumors, asserting that the national economy is entering a period of significant recovery.
