At a time, when the investors are losing confidence on stock market due to poor performance, the agitating Nepse staff threatened to halt trading from tomorrow.
"The Board of Directors didnot implement the agreement we entered last time forcing us to halt trading," said Bhesraj Khanal, president of the Employees Association at Nepal Stock Exchange (Nespe).
The association and Nepse board had reached an agreement on December 5 on increasing the professional standards of the employees, pay and perks, and reviewing the internal regulation.
"However, the agreement has not been implemented," Khanal blamed, adding that including general manager and the chairman, there are three representatives from the Finance Ministry. "But they are not sincere to their commitment."
However, the brokers are hopeful that they could trade tomorrow. "If the staff shut down the server, how can we trade," said president of the Nepal Stock Brokers Association Nanda Kishor Mundada.
"We have requested the regulatory authority of the capital market, Securities Board of Nepal (Sebon) and the Nespe to solve the problem at the earliest," he said, adding that the investors' confidence on the market will further plunge if the trading is halted.
However, this is not the first time in Nepal that the secondary market has been halted. Last year, the secondary market was closed twice to protest and it will be the third time.
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