अर्थमन्त्री वाग्लेको आरोप : १५–१६ अर्ब दुरुपयोग गरेर बजार कब्जा गरियो‘Billions Were Misused to Control the Market’: Finance Minister Wagle Signals Major Capital Market Reforms

Swarnim Wagle has accused a small group of individuals of manipulating Nepal’s capital market through insider trading, artificial market activities and misuse of billions of rupees belonging to the public, claiming that such groups had even attempted to influence political and economic institutions. Speaking at a meeting of the parliamentary Finance Committee on Tuesday, the finance minister said the government is now preparing to restructure and professionalize the country’s capital market under international standards.

During the meeting, Finance Minister Wagle acknowledged that Nepal’s financial and capital market institutions had gradually fallen under the influence of a limited group of individuals over the past several years. According to him, certain actors accumulated massive wealth through market manipulation and insider trading while simultaneously expanding their influence over political leadership and state institutions.

The minister alleged that public funds worth nearly Rs. 15 to 16 billion had been misused through such activities. He said these practices weakened public trust in Nepal’s financial system and damaged the credibility of the capital market. Wagle stressed that the government is now prioritizing governance reforms in an effort to restore transparency and institutional accountability.

Referring to the restructuring of the Nepal Stock Exchange, the finance minister said the government would implement recommendations provided by a committee formed to reform the stock exchange structure. He added that the government no longer wants the capital market to function merely as a speculative trading platform, but rather as a professional and institutionally driven system capable of supporting long-term investment and economic growth.

Wagle also noted that the government had already introduced liberal policy commitments toward the capital market through the policy and program announced by the President. According to him, the upcoming national budget will further define and expand those reform measures. Analysts believe these remarks indicate that the government is preparing broader reforms related to institutional investment, market regulation, margin trading systems and stock exchange restructuring.

The finance minister emphasized that Nepal’s capital market must now move toward international standards of professionalism, transparency and regulatory credibility. Market analysts say such statements have increased investor expectations that the government may finally address long-standing structural weaknesses within the country’s financial system.

In his remarks, Wagle also referred to the so-called “Gen Z movement,” describing it as an important intervention that prevented the country from moving in the wrong direction institutionally. He argued that without such public pressure and intervention, Nepal could have fallen into a deeper governance and institutional crisis.

According to the minister, the current government has placed governance reform at the center of its economic agenda. Quoting the Prime Minister, he said the government’s first priority is to establish a strong foundation of good governance before aggressively pursuing development and infrastructure expansion. “The first year is for governance; development will follow afterward,” he said while explaining the government’s broader policy direction.

Many observers interpret Wagle’s statement as one of the strongest public acknowledgments yet from the government regarding structural distortions within Nepal’s capital market. Concerns over insider trading, operator-driven manipulation, weak regulatory oversight and unequal access to market-sensitive information have persisted in Nepal’s stock market for years. The finance minister’s comments appear to signal that the government now sees reform of the financial system not only as an economic necessity but also as a governance issue.

Analysts say the success of these reform commitments, however, will depend largely on implementation rather than political rhetoric alone. While the government’s willingness to openly discuss market manipulation and institutional capture has been viewed positively by many investors, questions remain about whether authorities will be able to enforce meaningful regulatory reforms against powerful interest groups that have historically dominated parts of Nepal’s financial sector.