KATHMANDU, APRIL 6
Finance Minister Swarnim Wagle has said the government has no intention of unsettling the stock market or targeting small investors.
Speaking at an interaction organised by the Society of Economic Journalists-Nepal, Wagle said the government maintains a clear and stable policy towards the share market and has not pursued any measures to create fear among investors.
He described Nepal's stock market as relatively systematic and transparent compared to other sectors, citing digital practices such as paperless trading, bank-based transactions, direct dividend deposits and a clear tax and tracking system.
"We consider the stock market a model for digitalisation," he said, adding that similar systems would be expanded to other sectors.
The finance minister also clarified that there is no plan to scrutinise investors over the source of their funds, reiterating that the government is not pursuing a crackdown on the market.
However, he warned of strict action against insider trading, market manipulation and other unethical practices. Urging investors not to panic over recent fluctuations, Wagle said the government would continue efforts to strengthen the sector.
He also said removing Nepal from the Financial Action Task Force (FATF) grey list remains a top priority, alongside maintaining an open but regulated economic policy.
Wagle added that ongoing investigations into money laundering and financial crimes are evidence-based and not targeted at any individual or institution.
(With inputs from RSS)