Submit your Article

The Finance Committee under the House of Representatives is set to seek response from the Securities Board of Nepal (SEBON) on the process of issuing licenses for a new stock exchange and brokers. Today's meeting of the Finance Committee decided to call the SEBON for a deliberation on the issue and seek its response, said Santosh Chalise, who chairs the Committee as the senior-most member. The process of issuing a license for a new stock exchange has been halted following the government's direction. "The subcommittee under the Finance Committee has submitted a report after carrying out a study on the stock market. It has been decided to call the SEBON to discuss the matter of issuing licenses for a new stock exchange and brokers and its implementation," he said. Earlier on May 21, the Finance Committee wrote to the SEBON seeking details of the process for issuing licenses for a new stock exchange and stock brokerage firms, and the situation of the implementation of the suggestion report prepared by the Committee.  Following this, the SEBON responded to the Committee on May 26. In today's meeting, lawmakers put their view of calling the SEBON for its response. Stating that the SEBON was issuing licenses for additional stock brokers although the Committee had written to it on the matter, Padam Giri demanded investigation into it. "Recommendation by the subcommittee under the Finance Committee about issuing licenses for a new stock exchange has not been heard. License for stock brokers has been issued the same day or after the Committee wrote to the SEBON. Question about transparency in the issuance of license is being raised," he said. Saying that cases relating to license for a new stock exchange and brokers have been lodged with the Finance Committee, and the matter should be investigated after forming a subcommittee, he added.  

Civil servants making TikTok videos during office time will face action. Issuing a notice on Monday, the Ministry of Federal Affairs and General Administration said that action will be taken against those found making TikTok during the office time. Making TikTok videos in prescribed dress code, using office vehicles and within the premises of the respective office has been banned, said Ministry's Joint Secretary and spokesperson Kamal Prasad Bhattarai. "We have also directed government employees not to make TikTok videos even about office work related activities," he said. The initiative follows complaints about government employees doing 'indecent activities' in TikTok lately, according to the Ministry.    

Finance Minister Prakash Saran Mahat has said that the budget for the coming fiscal year 2023/24 was prepared in order to make the country's economy dynamic. At a program organized by Nepali Congress Constituency-7 here today, Finance Minister Mahat claimed that the budget for the coming fiscal year was prepared in order to run the country's economy keeping the nation and people in center. He said, "Some groups are not satisfied with the budget. We prepared it with firm determination without listening to any interest group. The budget helps to make the country dynamic. It has incorporated all areas." The finance minister said, "We have many expectations but means and resources are limited. We all should be involved to make the country's economy dynamic by using available means and resources as much as possible." Also the Spokesperson of the Nepali Congress Mahat said that it was necessary to maintain discipline in the party, adding a culture should be developed to respect each other in the party. He said that there is no need to make alliance with any political parties or forces if the NC becomes stronger, stating that no one is above the party.  

Deputy Prime Minister and Home Minister Narayankaji Shrestha said that the government is committed to ensuring good governance. In a meeting with local residents in Maisthan of Bardibas-4 this morning, the DPM promised to intensify the action against corruption. "No matter what wrongdoing must face action, now you can't get immunity with political status and position", Minister Shrestha said. As leaders of the political parties did not realize their responsibilities and obligations, the people have so far been deprived of good governance, he further said. He also said that Police, administrative authorities and related parties should listen directly to the victims and give a solution but not through any middlemen or intermediaries. For example, the people tried to rise up against the act of usury, they did not get the expected support from the people's representatives. On Saturday, Minister Shrestha had addressed programs held at district headquarters Jaleshwar and in Ramgopalpur.