Finance Minister Dr. Swarnim Wagle recently administered the oath to the newly appointed Chairman of the Nepal Securities Board (SEBON), Dr. Gopal Prasad Bhatta, urging him to prioritize investor protection and deliver tangible results without fear of ministerial interference.
On Monday, Finance Minister Dr. Swarnim Wagle swore in Dr. Gopal Prasad Bhatta as the new Chairman of the Nepal Securities Board (SEBON) at a special ceremony held at the Ministry of Finance. Dr. Bhatta’s appointment as SEBON Chairman was approved by the Council of Ministers meeting on Ashar 5.
During the event, Finance Minister Wagle instructed Chairman Bhatta to prioritize the safety of investors’ money and protect their interests in the capital market. He also advised Bhatta to carry out his duties with honesty and integrity, free from any personal gain, external influence, or undue pressure.
Prioritizing Investors and Market Growth
The Finance Minister emphasized the importance of focusing on several key areas. These include ensuring the security of investments for capital market participants, building greater trust in the market, and creating an environment that fosters economic growth by effectively mobilizing capital. He specifically asked Dr. Bhatta to protect investors’ funds, stating, “Protect the investments of capital market investors without any greed or influence.”
Dr. Wagle assured the new Chairman of the government’s full backing. He said, “I am with you. Government will provide all kinds of support. Make an environment that seizes the path of economic growth through capital mobilization.”
Clear Directives for Reform
For capital market improvements, Finance Minister Wagle directed Chairman Bhatta to develop plans with clear deadlines. He insisted on creating detailed action plans for daily, weekly, monthly, six-month, and one-year periods to ensure progress.
Wagle also addressed the issue of market speculation, urging an end to the spread of unnecessary rumors that cause fear among small investors. He stressed the need for the regulatory body to perform its role more effectively. The Minister also suggested that Chairman Bhatta prove his capability through tangible results rather than just words. “Implement capital market reform plans with timelines. Increase market confidence and skillfully perform your regulatory role,” the Finance Minister added, clearly stating, “Ministry will not interfere in any way. Work on results, not on much talking. I need a weekly market briefing.”
He further clarified that the Ministry would not intervene in the board’s operations but would offer all necessary assistance.
Chairman Bhatta’s Commitment
Responding to the directives, newly appointed SEBON Chairman Dr. Gopal Prasad Bhatta pledged his commitment to honestly work towards the capital market’s development, aligning with the plans set forth by the government and the Finance Minister.
Dr. Bhatta stated that he would utilize his knowledge, experience, and skills to safeguard investors’ interests and help achieve the government’s economic growth objectives. He also committed to continuously working for market development by putting into practice various studies and recommendations made over time for capital market reforms.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
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