Kathmandu – A parliamentary committee has directed the Nepal Securities Board not to proceed with the license of a new stock exchange without restructuring the government-owned Nepal Stock Exchange (NEPSE).

The Finance Committee, which convened a discussion with Chairman Santosh Narayan Shrestha on Thursday, gave the directive.

Nepali Congress MP and Chairman of the Finance Committee of the Parliament Santosh Chalise informed that the committee meeting initially concluded that the license of a new stock exchange without restructuring the government-owned Nepal Stock Exchange (NEPSE) would not be permitted.

According to Chairman Chalise, the directive has been issued not to proceed with the licensing process of the new stock exchange for the time being.The new stock exchange is competing with the Himalayan Stock Exchange, Annapurna Stock Exchange, and National Stock Exchange.