“How can we continue the transaction during this general strike when no investors are approaching us for share exchange? Banks as well as offices of share registrars are closed so no cash can be deposited and signatures cannot be verified,” said Nanda Krishore Mundada, the president of Nepal Stock Brokers Association.[break]
Lack of transportation facility and insecurity during the strikes have also barred the movement of investors and stock brokers. Stock brokers said the ongoing strikes have dampened the confidence of investors who have already been discouraged due to lingering political crisis and economic gloom.
He said government revenue of one million rupees paid as capital gains tax, Nepse commission and commission to Securities Board of Nepal (SEBON) are being lost every day due to the strike.
A Nepse official said trading is not possible unless stock brokers approach Nepse for share transactions. Offices of all stock brokers have been closed since Sunday when the Maoist began their nationwide indefinite strike to bring down the government.
SEBON chairman Shurbir Paudel said SEBON can´t force Nepse to resume trading when all institutions are closed and stock brokers are not bringing in new share exchange orders.
Last Thursday -- the last trading day of last week, Nepse had closed lower by 4.13 points to 419.28 points from 423.41 points recorded on Sunday.
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