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Securities Board of Nepal (SEBON) Chairman Bhatta takes oath of office and secrecy

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Kathmandu. The newly appointed chairman of the Securities Board of Nepal (SEBON) Dr. Gopal Prasad Bhatta has taken oath of office and secrecy. Finance Minister Dr. Bhatta was present at a programme organized at the Ministry on Monday. Swarnim Wagle formally took oath of office.

A cabinet meeting held on June 5 had decided to appoint Bhatta to the post of chairman of the board. After the swearing-in ceremony, Finance Minister Wagle directed Bhatta to work in a way to enhance investors’ investment security and trust in the market.

He stressed the need to work impartially by staying away from any kind of greed, temptation or influence. He also stressed the need to make capital market effective to accelerate economic growth through capital mobilization.

Stressing the need of short to long-term action plan for capital market reform, Finance Minister Wagle directed the bodies concerned to present a clear plan of action on daily, weekly, monthly basis, six months to one year. He also urged the government to control unnecessary rumors spreading in the market as it would create fear among small investors.

He stressed on result-oriented performance, saying that one should prove it by working and not by talking much. He also said that there would be no interference from the ministry but he would like to know the progress of the market every week. On the occasion, newly-appointed Chairman Bhatta pledged to work for capital market reforms as per the confidence of the government and the Finance Minister. He said that the past study and recommendations will be implemented keeping in mind the interests of investors, market development and economic growth goals.

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