Draft Company Act Sparks Turmoil in Share Market

Kathmandu. The draft of the 'Company Act, 2083' recently unveiled by the Ministry of Industry, Commerce and Supplies has created a significant stir in the capital market. The draft prepared by the government proposes a 1 percent fee on share transfers exceeding twenty-five lakh rupees, causing concern among investors. Since Monday morning, a widespread debate and protest have erupted on social media among those concerned with the capital market regarding this issue. The proposal in the draft has led investors to worry about an additional 1 percent burden on regular transactions in the secondary market (NEPSE). Following widespread protest and criticism, the ministry has indicated that it will revise the controversial provision.

Ministry Clarifies, 'This is not final, it will be revised'