Revenue Secretary Krishna Hari Baskota Tuesday assured the agitating applicants that the MoF would pave the way for Nepse to appoint additional 27 stockbrokers at the earliest.[break]
Applicants, who have been pressing the government to expedite the process of appointing new stockbrokers, met Baskota on Tuesday and requested him to speed up the process, taking note of the Supreme Court verdict that paved the way for Nepse to continue with the appointment process.
“Baskota has assured us that MoF would direct Nepse to proceed with the appointment process stating that the Supeme Court has paved the way for new appointments,” Bharat Ranabhat, coordinator of the agitating committee formed by the applicants, said after the meeting with Baskota.
Considering rising demands for additional stockbrokers on the back of growing stock market, Nepse had started the process to open new stockbrokers through open competition. It had shortlisted 316 aspirants from 336 applicants in the first phase. But the appointment process was halted, after an application was filed at Commission for the Investigation of Abuse of Authority (CIAA) questioning the transparency in the selection process.
Following CIAA´s intervention, Nepse had moved the Supreme Court, seeking the apex court´s nod to proceed with the appointment process. The apex court has issued verdict in favor of Nepse.
The agitating applicants have already given memorandums to Nepse and Securities Board of Nepal (SEBON) to expedite the process to recruit 27 new stockbrokers.
The applicants knocked the doors of ministry officials after the appointment process couldn´t gain momentum despite the apex court´s verdict.
With the new appointment, the number of stockbrokers in the secondary market would increase to 50.
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