December 18, 2020 | Investopaper
Finance Minister Bishnu Poudel has directed to reduce the commission of brokers in buying and selling shares. The Finance Minister has given such instructions in a discussion with the officials of the Securities Board Of Nepal (SEBON) on Friday. The directive came at a time when investors are demanding a reduction in the fee to be paid to brokers in share trading. At present, investors have to pay 0.4 to 0.6 percent fee to the broker in share trading.
Securities Board of Nepal (SEBON) has started internal homework to reduce broker fees. At the same time, a study has been done on how much commission should be taken. Finance Minister Poudel stressed not to delay the reduction of broker commission. “Don’t delay to reduce broker commission, be pro-active,” he said.
Secretary at the Ministry of Finance Shishir Kumar Dhungana and Ram Sharan Pudasaini, Economic Advisor Dr Prakash Kumar Shrestha, Chief Joint Secretary of Financial Sector Management and Institute Coordination Division Jhakka Prasad Acharya were present at the meeting.
Similarly, Chairman of SEBON Bhishma Raj Dhungana, Chairman of Nepal Stock Exchange Laxman Neupane, Chief Executive Officer Chandra Singh Saud, Chief Executive Officer of CDSC Purna Prasad Acharya and others were present at the discussion.