Minister for Finance Janardan Sharma Friday committed to improving the share market as the involvement of high profile officials for unfair trading in the market was criticised.
Responding to the queries of lawmakers on the matter in the meeting of Finance Committee of the House of Representatives today, Minister Sharma said that the government was committed to protecting people’s investment in share market. “An investigation is underway, individual and organisational clarifications have already been collected,” he said.
Chairman of the Security Board of Nepal (SEBON) and members of Nepal Stock Exchange (NEPSE) were found involved in unfair share trading of Sarvottam cement some time ago. An investigative committee was working on the issue.
Minister Sharma further said that protecting people’s investment on share was the responsibility of the government. “I will not speak much because an investigation into the issue is underway, however I reiterate mu commitment to correcting the share market in favour of the people,” he added.
According to him, the Ministry of Finance has received several complaints about insider trading, unfair practices, leadership lapses, use or misuse of technologies for the trading and unnatural value rise and fall of the shares.
“Enough attention has been drawn on the matter, problems will be solved lawfully soon,” he said. All the efforts will be centered to book the culprit for legal action, he said.
Meanwhile, the committee had directed the government to book the culprit legally. “Stop illegal involvement of the authorities in share trading to ensure fair trading,” read the statement.
Source : TRN,