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The main opposition Maoist has demanded that the Securities Board conduct an investigation through a reliable mechanism on the issue of commission demand from hydropower projects for issuing IPO. Maoist MP Madhav Sapkota demanded to investigate the matter in the meeting of the House of Representatives on Wednesday.
MP Sapkota has demanded an investigation, stating that the news that the Securities Board has asked for a commission of 5 to 7 percent for the issuance of IPO has attracted serious attention.
'IPPAN chairman and members have revealed that the securities board demanded 5 percent from large projects and 7 percent from small projects. The opposition has been paying serious attention to this news,' he said.
He said that when the government has set a target of producing 28,000 megawatts of hydroelectricity, it is a serious matter that the government's machinery is asking for commission. He demanded from the Speaker, 'This matter should be investigated by a reliable mechanism . I demand a ruling for this investigation.'
Due to the game of the commission in the securities board, the permission of the IPO of 93 companies of 43 hydropower projects with a capacity of 1009 megawatts was stopped for 22 months.
He said that middlemen were used to discourage the investors of the hydropower project. He said that this incident also confirmed that the government is being run by middlemen.
RP MP Roshan Karki has also demanded the Securities Board to investigate the case. It is being said that the head of the Securities Board has asked for a commission of 5 to 7 percent to issue the IPO. The Securities Board has not been able to function properly . Billions of money are trapped in the capital market. Those investors have been treated unfairly,' she said, 'The Chairman of the Securities Board has openly asked for commission.'
He demanded that the Prime Minister's Governance Commission take action against the Chairman of the Securities Board.
