The Finance Ministry has decided not to accept any demands from the employees of Nepal’s main capital market regulator, SEBON. The move comes after SEBON staff began protesting over benefits and funds they consider their rights.
The ministry issued a letter to SEBON on Ashoj 2, citing instructions from the Commission for the Investigation of Abuse of Authority (CIAA). The letter ordered SEBON to immediately cancel certain employee welfare and protection funds that were against existing laws and regulations. It also required SEBON to recover any payments already made from these funds.
The ministry emphasized that SEBON must get prior approval from the Finance Ministry before making any decisions that involve financial commitments. This restriction affects the funds and facilities that staff have been using, forcing them to return some benefits to the government.
After this directive, SEBON employees started protesting on Tuesday. They blocked official work, seized vehicles of SEBON leaders, and disrupted daily operations to press their demands.
Warning from the Finance Minister
Officials from the ministry met with Finance Minister Dr. Rameshwar Khanal on Thursday. He reportedly said there was no choice but to follow the ACC’s directive. Staff who continue protests with “unnecessary demands” may face strict action after the festival. A senior ministry official added that temporary leniency during Dashain should not allow employees to halt public services, warning of tough measures afterward.
With negotiations failing, SEBON staff are now discussing taking legal action to fight what they see as unfair treatment. One employee said their only option left is to approach the courts and settle the matter legally.
