Investors need not panic. Work will also be done to improve the stock market in the coming days: Finance Minister Wagle
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Finance Minister Swarnim Wagle has said that the government has not adopted a policy of arresting big investors in the stock market. Finance Minister Wagle said that the government wants to make the stock market clean and transparent, but work is being done to spread fear in the stock market. In a discussion with the officials of the Economic Journalists' Society SEJON, Finance Minister Wagle claimed that the government has not launched any arrest campaign.
'It has been seen that small investors have been terrorized, which is not appropriate,' Finance Minister Wagle said, 'The government has no intention of taking any action against small investors. The stock market is more organized and transparent than other areas of Nepal.'
He said that this system is reliable because it has a paperless system, transactions through banks, dividends directly to the account, a clear tax system, and it can be tracked who bought/sold. ‘The government has taken the stock market as a model area for digitalization,’ he said, ‘The Prime Minister is also trying to digitalize other areas like the stock market.’
The Finance Minister said that if someone has committed insider trading, manipulation, or other unethical acts, action will be taken only according to the existing law. ‘Therefore, investors do not need to panic. In the coming days, work will also be done to reform the stock market,’ he said.
Finance Minister Wagle also said that the work of restructuring the NEPSE will be taken forward. ‘Points 33 and 34 of the National Independent Party’s pledge will be implemented. Investors should study. How generous we are towards the stock market,’ Finance Minister Wagle added, ‘There is no need to be complacent when the market is down now. Golden days are coming. The government has been working for the reform of the stock market throughout its term. A comprehensive assessment cannot be made based on a week's time.'
