Kathmandu. Sagar Dhakal has announced his candidacy for the post of central member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

Dhakal has announced his candidacy for the post of central executive member from the group led by Vice-President Naresh Lal Shrestha.

Announcing his candidacy, he said that he has filed his candidacy for the post of member of the FNCCI to improve the country’s economy and to make business-friendly policies. “At present, there are many legal and practical problems of various commodity associations,” he said after announcing his candidacy. ’

He said that more than 72 lakh investors are involved in the capital market of Nepal and he will take initiative to strengthen the capital market as the backbone of the country’s economy.

“The market cap of Nepal’s capital market is around Rs 50 trillion and now it should be promoted as a mirror of the overall economy and not limited to the capital market of Nepal,” he said, adding, “I have announced my candidacy for the central member of the organization in the election to promote the overall investors and Nepal’s capital market.” Dhakal, who has been associated with the capital market of Nepal for the past two years, has been involved in capital market, hydropower, hotel tourism, agriculture, among other sectors.

Similarly, he said that he would take effective initiatives to revise the Securities Act 2063 and its Regulations as per the need of the changing market. Similarly, special coordination has been made with the Securities Board of Nepal to operate modern financial instruments such as margin trading, intraday trading, short selling, and equity derivatives by expanding new financial instruments.

He also said that he will play a leadership role as a bridge between regulators and investors in setting up commodities, foreign currency, and bullion exchanges.

He also said that SME platforms and OT markets should be fully operationalized to pave the way for small and medium businesses to raise capital.

He also pledged to pile pressure on the government to formulate a clear and easy policy to bring non-resident Nepali and foreign investors into the capital market to open the door to international investment.