NC concerned at stockmarket rout

Published On: March 29, 2018 05:16 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 29: The stock market tumult has become a topic of discussion at the central working committee (CWC) meeting of the main opposition Nepali Congress (NC). 

Speaking at the CWC meeting organized to review the party's loss in recently held elections, leaders expressed concerns over the stock market rout.

The response of the main opposition party about the stock market comes in the wake of market free-fall over the past week. Though stocks recovered their values to some extent in the past two trading days on account of news reports about the government's preparation to address stock market through a white paper, the Nepse index took a double-digit dive in the previous two trading days. 

Earlier on Wednesday, an NC leader has also raised the issue in the National Assembly meeting.

NC Central Committee Member Bhisma Raj Angdangbe raised the issue of stock market rout on Thursday's meeting, while former Finance Minister Ram Sharan Mahat also criticized the government over the stock market slump in the previous day's meeting, according to Bishwa Prakash Sharma, the NC Spokesperson. 

“The stock market is considered to be a pulse of the country's economic health,” Sharma told Republica. “There is relatively a stable environment in the country after the successful holding of elections. At a time when even the government has been touting that the country is headed toward prosperity, the rapid fall of stocks is not a positive sign for the economy.” 

He also said that the main opposition party wants to draw the attention of the government over the stock market rout.

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