House accepts proposal on Commodity Exchange Market Bill

KATHMANDU: The Legislature-Parliament today accepted by a majority the proposal seeking the Parliament's consideration on the Bill Related to Commodity Exchange Market, 2017.

Lawmakers Rewati Raman Bhandari, Prem Suwal and Bharat Kumar Shah expressed their views on the proposal presented by Deputy Prime Minister and Finance Minister, Krishna Bahadur Mahara.

Responding the lawmakers' queries, Finance Minister Mahara said the bill has been brought with the objective of determining the real price for the commodity market, reducing the price risk and controlling inflation.

He explained that the new bill will help expand the scope of tax, promote employment, monitor and check the informal economy. He hoped that financial irregularities and cheating could be curbed with the help of this bill. It will also end the situation of a handful of people controlling the market, he added.

The Legislature-Parliament will next meet at 3 pm on March 22.