During a meeting with office-bearers of the Stock Brokers Association of Nepal this morning, Finance Minister Swarnim Wagle claimed that the upcoming national budget will be the most transformative and historic since 2048 BS.
The minister stated that the government is seriously focused on strengthening good governance in order to remove Nepal from the ‘grey list’. He emphasized that improving governance is essential to achieve this goal and reflects the public mandate.
He clarified that both the Rastriya Swatantra Party and the government are not against the private sector, and that efforts are underway to transform the national economy.
“The upcoming budget will be the most transformative and historic since 2048 BS. A golden time is approaching for Nepal’s economy. We should not fall behind rumors and misinformation,” he said.
According to the minister, some investigations may be based on older cases but have now reached their final stages. He made it clear that those involved in wrongdoing will not be spared, but there will be no selective or vindictive actions. He also asserted that the government is private-sector friendly, saying that even his first decision in office demonstrated this stance.
Speaking about the stock market, he said his party holds a liberal view toward the share market, which is clearly mentioned in its manifesto. He urged stakeholders to remain cautious about recent rumors spreading in the market.
During the meeting, former association president Priyaraj Regmi and other representatives complained about misleading rumors affecting the market. They said certain groups that had exited the market and are now attempting to re-enter have been spreading fear among small investors.
The representatives stressed the need for a supportive environment for institutional investors. While acknowledging that investigations into the private sector may be justified, they suggested such processes should be conducted confidentially. They also urged the government to implement the recommendations put forward by the Capital Market Reform Task Force.
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