Kathmandu. Sagar Dhakal has announced his candidacy for the post of central member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). Dhakal has announced his candidacy for the post of central executive member from the group led by Vice-President Naresh Lal Shrestha.
Announcing his candidacy, Dhakal said that he has filed his candidacy for the post of objective member to improve the country’s economy and make business-friendly policies within the FNJ. “There are many legal and practical problems of the objective members of the FNJ,” he said, adding, “I have filed my candidacy for the post of central member to discuss and lobby with the government to resolve the problems of objective associations within the FNJ.” ’
Dhakal said that more than 72 lakh investors are associated with the capital market of Nepal and he would take initiative to strengthen the capital market as the backbone of the country’s economy. “The market cap of Nepal’s capital market is around Rs 50 trillion and it should be promoted as a mirror of the overall economy and not limited to the capital market of Nepal,” he said, adding, “I have announced my candidacy for the central member of the organization in the election to promote the overall investors and Nepal’s capital market.” ’
Dhakal, who has been involved in the capital market of Nepal for the past two years, has been involved in the capital market, hydropower, hotel tourism, agriculture and other sectors. Similarly, he said that he would take effective initiatives to revise the Securities Act 2063 and its Regulations as per the need of the changing market.
Dhakal also said that special coordination has been made with the Securities Board of Nepal (SEBON) to introduce modern financial instruments such as margin trading, intraday trading, short selling and equity derivatives by expanding new financial instruments. He also said that he would play a leading role as a bridge between regulatory agencies and investors for establishment of commodities, foreign currency and bullion exchange.
Dhakal also said that SME platform and OT market should be fully operationalized to pave the way for small and medium enterprises to raise capital. He also pledged to pile pressure on the government to formulate a clear and easy policy to bring non-resident Nepali and foreign investors into the capital market to open the door to international investment.
