Nepal | July 11, 2020

Securities Board and investors agree not to launch protest in future

Nepse likely to reopen from Tuesday  

Himalayan News Service
Share Now:


The Securities Board of Nepal (SEBON) and different investor groups today have come to a mutual understanding that the investors will not launch any type of protest programmes in the future.

Earlier, as the board was unable to decide on when and how to open the secondary market which has been closed for the last few months due to the lockdown imposed by the government to curb the spread of the coronavirus, some investors had threatened to go on a hunger strike against SEBON and Nepal Stock Exchange (Nepse).

The agreement which was signed by all the investor groups and SEBON mentions that investors will not resort to any protests and that the secondary market will be reopened as soon as possible.

Radha Pokharel, chairperson of Nepal Pujibazar Laganikarta Sangh, who also participated in the meeting, said that SEBON and investors have agreed to reopen the stock exchange most likely from Tuesday. “The board officials have stated that they will hold their board meeting on Sunday and try to take a decision to reopen the market from Tuesday,” she informed.

Niraj Giri, spokesperson for SEBON, said the board is preparing to reopen the market as soon as possible.

“After listening to the feedback and suggestions of the investors and other stakeholders we have thought about reopening the market from next week,” he mentioned.

During the meeting it was also decided that the investor associations will encourage their members to conduct business from home as much as possible due to the pandemic and will provide advice accordingly.

Giri further said that SEBON has taken the suggestions of investors and other stakeholders seriously to improve and expand the market by introducing relevant policies and rules and by improving infrastructure and technology.

The understanding states that the market will be fully reopened after some improvements are made in Nepse’s online trading system and the provision of obtaining usernames and passwords in the current situation, using ConnectIPS service of Nepal Clearing House or suitable electronic means for the time being, is ready.

Nepse has been closed since the lockdown began and opened only for a couple of days on May 12.

A version of this article appears in e-paper on June 28, 2020, of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Slick United ease to another win at struggling Villa

BIRMINGHAM: Manchester United kept up their impressive chase for a top-four spot with a comfortable 3-0 win at relegation-threatened Aston Villa in the Premier League on Thursday. The victory means United, who are now unbeaten in 17 matches in all competitions, became the first team s Read More...

Ward chair’s hand suspected in fertiliser black marketing

RAUTAHAT, JULY 9 While fertiliser crunch has affected farmers in Rautahat badly, complaints of black-marketing have also increased of late. As per a finding, fertiliser bought in the name of Srijansil Agriculture Cooperatives Limited, Bagmati Saving and Credit Cooperatives Limited and Unnatish Read More...

Nepal received India’s diplomatic note on the country’s new map last month, says NA panel

KATHMANDU, JULY 9 The Government of India had sent a diplomatic note to Nepal’s Ministry of Foreign Affairs after the Government of Nepal published a new political and administrative map of the country, depicting Limpiyadhura, Lipulekh and Kalapani as the country’s territories. Chair of th Read More...

One-on-one meeting of NCP co-chairs postponed

KATHMANDU, JULY 9 The much anticipated one-onone meeting between co-chairs of the ruling Nepal Communist Party (NCP) Prime Minister KP Sharma Oli and Pushpa Kamal Dahal did not take place today. Deputy Parliamentary Party leader of NCP Subas Chandra Nembang, who is close to PM Oli, told THT th Read More...

Preparations on to prevent possible disaster

BHOJPUR, JULY 9 A multi-party meeting of Bhojpur District Disaster Management Committee held under the chairmanship of Chief District Officer Basanta Raj Puri today decided to be prepared for any eventuality that may occur due to the monsoon. Federal lawmaker Sudan Kiranti was also present at Read More...

Bharatpur Hospital

Bharatpur Hospital providing dialysis service to COVID patients

CHITWAN, JULY 9 Bharatpur Hospital, which is treating coronavirus infected people of Chitwan and its surrounding areas, has also started providing dialysis service to coronavirus-infected kidney patients. Kidney disease specialist at Bharatpur Hospital, Dr Santosh Gurung, said the hospital had Read More...

Infection rate high among returnee migrants

RAJBIRAJ, JULY 9 High rate of COVID-19 infection has been seen among people returning from third countries at present, while the infection rate was high among returnees from India two months ago in Saptari. According to District Public Health Office, of the 154 COVID infected persons being tre Read More...

Landslide sweeps away water pipes in Dhading

DHADING, JULY 9 Locals at Chhumrang Village are facing acute drinking water crisis after landslides swept away drinking water pipes at Rubivalley Rural Municipality, in Dhading. The villagers are compelled to drink collected rainwater as they cannot clear away the mudslip to connect the pipes Read More...