Kathmandu. KATHMANDU: The Ministry of Finance has started the process of taking over the Securities Board of Nepal (SEBON) by reducing its powers.
The ministry is preparing to take the authority by amending the working procedure related to the employees of Sebon. The Ministry has sought opinion from the Public Service Commission for this.
According to a Sebon source, the ministry is going to amend the working procedure to implement the provision of obtaining consent regarding the operation of the Employees Welfare Fund and Employees Security Fund. Prior to this, SEBON was responsible for the operation and management of both the funds. Now, the operation and management of both the funds will be done after the approval of the Ministry of Finance.
Similarly, the ministry is also planning to make arrangements for electronic attendance for employees at Sebon. Earlier, there was no such provision in the working procedure.
Currently, employees of Sebon are protesting to maintain the autonomy of Sebon and to withdraw the decision to cut the employees’ perks. It has been 101 days since the employees started their agitation. Currently, the employees are continuing the sit-in program for 1 hour.
The employees of Sebon had started the protest from September 23 disagreeing with the decision of the Ministry of Finance (Revenue Secretary) on September 16 and the letter dated September 19 demanding the scrapping of the work procedure related to the services and facilities of the employees of Sebon and taking the consent of the Ministry of Finance on the issue of creating financial liability for the employees.
Lately, the employees of Sebon have been staging a sit-in for 1 hour after the ministry assured that the process would be forwarded to address the demands. However, instead of addressing the demands, the employees are upset that the ministry is preparing to curtail the rights of SEBON by amending the procedure. They are preparing to announce strong protest programs in the next few days.
