Kathmandu. KATHMANDU: The Securities Board of Nepal (SEBON) has directed Nepal Stock Exchange (NEPSE) and CDSC to make necessary work for short selling and resumption of intraday trading. Chairman of the Board, Dr. Gopal Bhatta summoned NEPSE and CDSC today and issued such instructions.

During the meeting, Chairman Bhatta also directed NEPSE to forward work on the policy and program for the coming fiscal year and other works to be carried out by NEPSE in the capital market development roadmap of Nepal 2083.

In the discussion held today, Chairman Bhatta directed the Board to prepare a concrete action plan of the programs set in the policy of the Board for the development of the market and submit it to the Board at the earliest. “The Board is ready for all kinds of facilitation to make arrangements for the legal reforms to be made for the operation of short selling service and to identify the needs of structural (manpower and technology) as well as to move forward the work as soon as possible,” the statement reads.

In the meeting, NEPSE officials urged the government to approve 2 bylaws that have been stalled by SEBON for more than 3 years.

NEPSE has sent 2 bylaws to Sebon for approval in April and June 2020. It has been sent to amend the listing bylaws and approve the newly drafted securities business membership and supervision bylaws. Both of these bylaws have been withheld by SEBON. NEPSE has requested to approve both the bylaws.