Ravi Lamichhane Pledges Immediate Action to Revive Nepal’s Capital Market

Rastriya Swatantra Party (RSP) Chairman Ravi Lamichhane has pledged to take immediate steps to address the growing problems facing Nepal’s capital market and broader economy. According to a detailed account of a meeting with Lamichhane, the discussion focused on the deteriorating confidence of investors, weak market demand, excess liquidity in banks, low interest rates, and policy decisions that have further discouraged investment. The investor reportedly told Lamichhane that millions of people directly and indirectly connected to the capital market had placed high hopes in the RSP and its election promises, but growing disappointment with the government and Finance Minister Dr. Swarnim Wagle had caused many investors to exit the market. Concerns were also raised over the higher capital gains tax, VAT on high electricity consumption, the continued 25% tax burden on NRN investment, and delays by the Ministry of Finance and regulatory agencies in implementing measures that could boost market demand. The discussion also highlighted the impact of anti-money-laundering actions, with concerns that while action against wrongdoers is necessary, ordinary investors and genuine businesses are increasingly feeling intimidated. After listening to the concerns for around 30 minutes, Lamichhane reportedly acknowledged the seriousness of the situation and asked for a concrete action plan within three days. He said he would discuss the matter with Finance Minister Wagle and take the necessary initiative to address the problems. The investor subsequently prepared and submitted a 14-point action plan outlining immediate measures to revive the capital market and stimulate economic activity. According to the account, the meeting has raised hopes that the RSP’s top leadership now better understands the challenges facing investors and may take concrete steps to restore confidence and revive the capital market.