Kathmandu. The Nepal Stock Market Investors Association has filed a petition at the Public Accounts Committee (PAC) under the House of Representatives, alleging that the recently implemented policy provisions in Nepal’s capital market were illegal, conspiratorial and brought under the influence of interest groups. ।

The association has demanded immediate repeal of the provision of , suspension of the officials involved , parliamentary inquiry and action against the guilty. 

The petition signed by Hari Bahadur KC, president of the association, states that the rights and interests of more than 76,55,000 general investors have been raised for the protection of their rights.Claiming that the main regulator of Nepal’s capital market, the Securities Board of Nepal (SEBON) has now become the most controversial body in the country, complaining that the objectives of the Act to protect the interest of investors have not been implemented in practice.

has demanded to quash the decisions of Nepal Stock Exchange (Nepse) from April 23, 2083 as disputed. According to those decisions, the price entry range has been increased from 2 percent to 5 percent in the initial trading session. Similarly, the price fluctuation limit of a company has been increased from 10 percent to 15 percent daily. 

The association has alleged that the decisions were implemented without adequate study by violating the legal provisions of the House of Representatives Regulations, 2079, Legislation Act, 2081, Good Governance Act, 2064 and .In addition, the Federation has claimed that has been brought to benefit interest groups by encroaching on the rights of {{}, , , Parliament and the government.

The petition states that , , NEPSE, , CDS and Clearing Limited, Nepal Rastra Bank, Insurance Authority and other regulatory bodies cannot exercise the powers of the legislature and the executive ।

According to the association, the new arrangement will increase the risk of a single company’s share price fluctuating by up to 30 percent on a single day and by 16 percent in the overall index, which could seriously affect the capital of ordinary investors. It has also expressed the apprehension that it will only benefit the securities brokers (broker). 

Similarly, the association has argued that although the facility of giving 24-hour purchase and sale orders to the investors abroad is positive, it will be legally void if it is implemented without following the necessary legal process.The Public Accounts Committee (PAC) has urged the Public Accounts Committee (PAC) to immediately intervene and take effective steps, saying policy instability has been caused by policy instability in the capital market with a market capitalization of around Rs 50 trillion. 

The petition also states that they are committed to provide more than two decades of experience to the government free of cost for the development, expansion, reform and modernization of capital market.