PM Prachanda directs to postpone new stock exchange related works

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ directed to postpone of the process for establishing a new stock exchange immediately.

PM Prachanda issued such an instruction considering the fact that questions were raised in the parliament about the bickering of finances for the distribution of permits and the stakeholders about it.

Furthermore, the instruction has bearing with the fact that a case related to this matter was subjudice in the Patan High Court.

The meeting of the Council of Ministers on May 9 had decided to postpone the process of establishing a new stock exchange, informed Govinda Acharya, PM Prachanda’s press advisor.

The Securities Board had taken forward the process of establishing the new stock exchange demanding the letter of intent. At the time when voices were being raised to further strengthen the Nepal Stock Exchange (NEPSE), the Securities Board had initiated and taken forward the process of setting up a new stock exchange.

Three groups had submitted the letter of intent for new stock exchange and their applications were being reviewed.

PM Prachanda then summoned Minister for Finance Dr Prakash Sharan Mahat, Chief Secretary Shanker Das Bairagi among others and instructed to halt the process immediately, divulged press advisor Acharya.