Nepal

Budget 2079/80: Reservations to be ensured for Nepalis abroad in IPO subscription 

By THT Online

Minister for Finance Janardan Sharma walking to the podium to present the budget before joint session of the Federal parliament on Sunday, May 29, 2022. Photo: RSS

KATHMANDU, MAY 29

The government has decided to make reservations for Nepalis living abroad for foreign employment in the subscription of share issuance in the primary market.

Finance Minister Janardan Sharma while presenting the budget of the 2079/80 fiscal year in the parliament today, announced that a 10 per cent reservation will be ensured in the primary shares of the company which will be open for expulsion and sale for Nepalis in foreign employment.

In the same manner, Minister Sharma also informed that laws to open investment of non-resident Nepali in NEPSE will be formulated.

'The structure of the stock market in the secondary market will be made more competitive. Meanwhile, the rights of general and small scale investors will be protected by minimizing the potential risks by expanding and diversifying the capital market', assured Sharma.