Kathmandu. Investors have demanded the immediate removal of the leadership of insurance and stock market regulators.
The investors met Finance Minister Rameshwor Khanal on Thursday and demanded this. They have demanded the removal of officials of Insurance Authority of Nepal, Nepal Stock Exchange (NEPSE) and Securities Board of Nepal (SEBON) for share market reforms. They have complained to Finance Minister Khanal that the leadership has not been able to work as per the interest of the investors.
Investors have met Finance Minister Khanal and demanded the removal of chairmen and CEOs who have not worked for the reform of the share market, saying the influence of middlemen has increased in the appointment of regulators. Investors have submitted details of the works that the government should carry out for short-term and long-term reforms as the share market has not been reformed, developed and expanded.
Investors’ umbrella organizations such as General Investors Association, Nepal Shareholders’ Association, General Investors Association of Nepal and Securities Investors Association of Nepal have demanded immediate relief for the improvement of the share market.
“As there is a need for radical reforms in the working procedures of the Securities Board of Nepal, the main regulator of the capital market of Nepal, the work of making juniors supreme by removing senior officers should be stopped immediately,” reads the memorandum submitted to Finance Minister Khanal. ’
Investors have also demanded that the limit on share loans be removed immediately.
