पुँजी बजारमा सुधारका योजना बजेटमा समावेश भए पनि कार्यान्वयनमा चुनौतीPlans for Capital Market Reforms Included in Budget but Face Implementation Challenges
पुँजी बजारका केही विषयहरू प्रत्येक वर्ष बजेटमा समावेश हुन्छन् तर कार्यान्वयनमा जान सकिरहेका छैनन्। मंगलबार जेठ १५ गते सार्वजनिक हुने आगामी आर्थिक वर्ष २०८१/०८२ को बजेटमा पनि यी विषयहरू पुनः समावेश नहोलान् भन्न सकिँदैन।
एक प्रमुख विषय गैर आवासीय नेपाली (एनआरएन) लाई पुँजी बजारमा भित्र्याउने हो। यो कुरा बजेटमा समावेश भएको वर्षौं बितिसकेको छ, तर कार्यान्वयन भएको छैन। यसैगरी, कमोडिटी एक्सचेन्ज बजार सञ्चालनमा ल्याउने कुरा पनि बजेटमा प्राथमिकता पाए पनि हालसम्म सञ्चालनमा आउन सकेको छैन।
धितोपत्र बोर्डले कमोडिटी एक्सचेन्जको लाइसेन्स दिन दुई पटक आवेदन मागिसकेको छ। केही आवेदन प्राप्त भए पनि प्रक्रिया अघि बढ्न सकेको छैन। स्टक एक्सचेन्जलाई प्रतिस्पर्धी बनाउने कुरा पनि बजेटमा प्राथमिकता पाएको धेरै समय भयो। नयाँ स्टक एक्सचेन्जको लाइसेन्सका लागि आवेदन खुले पनि अन्तिममा सरकारले रोक्यो।
लगानीकर्ताहरूले भने बजेटमा समावेश भएर मात्रै हुँदैन, त्यसलाई तत्काल कार्यान्वयन गर्नुपर्छ भनेका छन्।
नेपाल धितोपत्र बोर्ड, नेपाल स्टक एक्सचेन्ज, र सीडीएससीले पनि आगामी बजेटका लागि विभिन्न सुझाव दिएका छन्। जस्तै, स्टक एक्सचेन्ज र सीडीएससीको पुनर्संरचना गर्ने, पुँजीगत लाभकरको सुधार, र नयाँ कार्यालय भवनको व्यवस्थाको माग गरेका छन्।
यी सुझावहरू बजेटमा पर्छन् कि पर्दैनन् र परेका सुझावहरू कार्यान्वयनमा जान्छन् कि जान्न भन्ने कुरा हेर्न बाँकी नै छ। तर, सबैले यो वर्ष बजेटले पुँजी बजारमा सकारात्मक परिवर्तन ल्याउने अपेक्षा गरेका छन्।
Every year, several issues related to the capital market are included in the budget, but they have yet to be implemented. On Tuesday, May 28th, the budget for the upcoming fiscal year 2081/082 will be announced, and it's likely that these issues will be included once again.
One key issue is bringing Non-Resident Nepalis (NRNs) into the capital market. This topic has been included in the budget for years, but it has not been implemented. Similarly, the plan to establish a commodity exchange market has been given priority in the budget, but it has not yet materialized.
The Securities Board of Nepal (SEBON) has twice called for applications for the commodity exchange license. Although some applications were received, the process has not progressed. The idea of making the stock exchange competitive has also been prioritized in the budget for a long time. Although applications for new stock exchange licenses were opened, the government eventually halted the process.
Investors have stated that merely including these issues in the budget is not enough; they must be implemented promptly.
The Securities Board of Nepal, the Nepal Stock Exchange (NEPSE), and CDS and Clearing Limited have provided various suggestions for the upcoming budget. These include restructuring NEPSE and CDSC, improving capital gains tax, and requesting new office buildings.
It remains to be seen how many of these suggestions will be included in the budget and, more importantly, how many will be implemented. However, there is hope that this year’s budget will bring positive changes to the capital market.
