Kathmandu. KATHMANDU: Staffers of Nepal Stock Exchange (Nepse) have detained the chairman and chief executive officer (CEO) of Nepal Stock Exchange (NEPSE) for 13 hours for not paying bonus as per the decision of the Labour Court. The employees union of NEPSE has locked the chairman and CEO in the office from 11 am to 12 midnight on Tuesday.

After the employees locked the chairman and CEO in the office, the police had reached NEPSE time and again. When the police arrived, they were sent back saying that the dispute had been resolved. According to sources, a team from Police Circle Singha Durbar reached NEPSE at around 10:30 pm and sent them home in the presence of the employees at around 12:30 pm.

The employees of NEPSE were entitled to receive 5 percent bonus shares from the profit. Four years ago, the Ministry of Finance had directed to give only 1 percent bonus. Following the directive from the Ministry of Finance, the NEPSE Board of Directors has decided to give only 1 percent bonus to the employees. Nepse’s employees’ union went to the Labour Court protesting against the decision of the board of directors. The Labour Court had ordered to give 5 percent bonus shares. The employees were demanding 5 percent bonus shares as per the court’s order. However, the board of directors insisted that the directive of the ministry was not enough just because the order of the Labour Court was enough.

6 (3) of the bonus regulation states that the Ministry of Finance should approve it. The management is adamant that the decision cannot be taken without the consent of the finances by showing the same rules. Bureaucrats, on the other hand, are not a bigger ministry than the courts. They are adamant that they need a bonus as per the court order. Due to this stance, the chairman and CEO and other high-ranking employees were imprisoned in NEPSE on Tuesday.

Employees who used to get 5 percent bonus until four years ago have not taken bonus after the ministry directed to give only 1 percent bonus last year. The union, which had gone to the Labour Court demanding 5 percent bonus, has not made the ministry an opponent. If the ministry had been made the defendant when the union went to court, the ministry would have to implement the court’s order. This controversy was not going to come. Employees would get bonuses.

Now, the controversy has escalated due to the federal court’s order, the board of directors showing the bonus bye-laws and directing the finances. According to NEPSE sources, the chairman and CEO and other high-ranking officials were held hostage in their office for around 13 hours on Tuesday due to the dispute.

NEPSE’s employees’ union had filed an application at the Labour Court demanding that the employees should be entitled to bonus from profit. However, they have been agitated after the NEPSE Board of Directors decided not to provide bonus to the employees against the order of the Labour Court. The employees protested and locked the office bearers including the chairman and CEO in the office till 1 am.

The employees of NEPSE are still on strike. They have demanded the bonus as per the order of the Labour Court. The employees have said that they will continue the agitation until their demands are met. Today, they are working with black bands on their hands.