Right time to invest in secondary market, says FinMin Khatiwada

Kathmandu, September 17

Finance Minister Yubaraj Khatiwada has said this is the right time to invest in the secondary market.

Against the backdrop of Nepal Stock Exchange remaining southbound for the last two months, Minister Khatiwada has said investors should capitalise on the reduced price of shares and also urged banks and financial institutions (BFIs) to facilitate investors.

Speaking at the 58th anniversary of Employees Provident Fund (EPF) here today, Khatiwada has said the time has come to make the financial sector ‘more vibrant’.

“With stability in the political system, BFIs are gradually slashing the interest on margin loans,” he said, adding that it is therefore the right time to invest in the secondary market.

According to the finance minister, a bullish secondary market reflects on positive economic scenario in the country.

“The government will support to create a conducive environment for investment in the secondary market,” Khatiwada said.

He, however, warned the BFIs not to over provoke the financial market.

In the programme, Administrator of EPF Tulasi Prasad Gautam informed that the fund has launched contributory pension scheme from today.

“We have launched a contributory pension scheme, which is more modern compared to existing government pension system,” Gautam said, adding that it will have a positive long-term effect.

He informed that the fund’s income stood at Rs 29.53 billion and recorded net profit of Rs 3.75 billion in fiscal year 2018-19.