KATHMANDU, Oct 15: The Election Commission (EC) has requested the Ministry of Finance (MoF) to submit a clarification after the ministry moved ahead to issue new licenses to numerous establishments associated to insurance and inventory market.
Sending a letter on Friday, the EC requested the MoF to furnish its clarification within the subsequent three days.
The Securities Board of Nepal (SEBON) is in course of to issue licenses to new inventory alternate companies, stockbrokers, commodity alternate, distant work stations of brokerage companies, particular funding fund managers and credit standing companies, amongst others. Similarly, the Insurance Board has additionally moved ahead to issue licenses to micro insurance companies.
After these entities beneath the MoF have began their processes, the Consumer Welfare Protection Forum had earlier filed a grievance on the EC, elevating questions towards these actions forwarded by the federal government authorities when election code of conduct has already come into impact. On September 28, the EC enforced the code of conduct for the November 20 federal and provincial polls.
The election code of conduct bars the federal government authorities from approving and working new applications other than those talked about within the price range.