Kathmandu – Finance Minister Dr. Swarnim Wagle administered the oath of office and secrecy to the newly appointed Chairperson of the Nepal Securities Board (SEBON), Dr. Gopal Prasad Bhatt at a ceremony held at the Ministry of Finance on Monday in Kathmandu.
Dr. Bhatt was appointed as the Chairperson of the Nepal Securities Board by the cabinet during its meeting on June 19.
Following the oath-taking ceremony, Finance Minister Dr. Wagle instructed the newly appointed chairperson to work with honesty and integrity to safeguard the investments and interests of capital market investors.
He also urged Dr. Bhatt to remain free from all forms of temptation and undue influence while carrying out his responsibilities.
The Finance Minister said the new chairperson should give special attention to protecting investors’ investments and promoting economic growth through effective capital mobilization.
“Protect the investments of capital market investors without yielding to any form of temptation or influence,” Dr. Wagle said. “I am with you. The government will provide all necessary support. Create an environment where capital mobilization contributes to economic growth.”
Dr. Wagle also instructed Dr. Bhatt to submit action plans outlining the measures to be taken for capital market reforms on a daily, weekly, monthly, six-month and one-year basis.
Expressing concern over the spread of unnecessary rumours in the market that have created fear among small investors, the Finance Minister directed the new chairperson to address and dispel such misinformation.
He further advised Dr. Bhatt to demonstrate his commitment through results rather than words.
“Implement capital market reform plans within clear timelines. Strengthen market confidence while efficiently fulfilling the Board’s regulatory responsibilities,” the Finance Minister said. “There will be no interference from the Ministry. Let your work speak through results, not words. I expect a weekly briefing on the market.”
Speaking at the programme, SEBON Chairperson Dr. Bhatt pledged to work honestly for the development of Nepal’s capital market in line with the government’s vision and the Finance Minister’s priorities.
He also expressed his commitment to using his knowledge, experience and skills to protect the interests of investors while supporting the government’s goal of achieving economic growth.
Dr. Bhatt said he would continue working to develop the capital market by implementing the recommendations and studies that have been carried out over the years to reform the sector.
