Instructions to take action against Securities Board and NEPSE officials

KATHMANDU: AUGUST 20 – The parliamentary committee has directed the government to take immediate action against the officials of Nepal Securities Board and Nepal Stock Exchange (NEPSE) and inform the committee.

A meeting of the Finance Committee under the House of Representatives held at Singha Durbar on Friday directed the government to take action against the chairman of the board Bhishma Raj Dhungana and the chief executive officer of NEPSE Chandra Singh Saud for trading shares.

Stating that the chairman of the board Dhungana and the chief executive officer of NEPSE Saud have been accused of buying the best cement shares in the name of their family members, the committee has drawn the attention of the finance ministry to immediately investigate and take necessary action.

Stating that it was heard in the meeting that the regulatory body was involved in distorting the stock market, Finance Minister Sharma informed the committee that the government has taken a ministerial decision to control it and formed a five-member committee to investigate.