The long-stalled Securities Board of Nepal (SEBON) is finally moving toward reopening. After weeks of shutdown due to employee protests, SEBON chairman Santosh Narayan Shrestha has started talks to find a middle path between the ministry and staff.
Search for a balanced solution
Shrestha has been holding continuous discussions with Finance Ministry officials and SEBON board members. According to sources, the talks focus on addressing staff concerns and finding a practical solution that can bring normal work back to the board.
His active involvement has softened the protesting employees’ stance. Staff, who earlier stopped board members from entering the office, are now helping create space for internal discussions.
First open talk after protest
On Friday, for the first time since the protest began, SEBON’s chairman and board members met face-to-face with employees to listen to their complaints. Shrestha had earlier met staff several times informally, but this was the first group discussion since tensions escalated.
During the meeting, employees explained their side of the story and requested board support. After hearing them, the chairman called for a board meeting on Sunday evening to discuss possible solutions.
Main issue behind the protest
The protest began after the Finance Ministry ordered the cancellation of two major employee funds — the Welfare Fund and the Security Fund — which had been providing various benefits to staff. The ministry also directed SEBON to recover all the money given under those schemes, calling them unlawful.
Board members, however, argue that the decision is unfair. They say the funds were created legally under past board decisions and that employees are now being treated as if they committed corruption. Some board members believe the Finance Ministry has gone too far, creating fear and pressure among staff.
Possible legal move
A few members have suggested exploring legal ways to defend employees’ rights. They say SEBON cannot remain silent if its own staff face injustice from the government.
Ministry remains firm
The Finance Ministry, meanwhile, has not shown any sign of taking back its decision. It insists that all past benefits must be returned and that SEBON must seek ministry approval before making any new financial commitments.
As a result, the protest continues, and the board’s work remains stalled. However, with the chairman’s renewed effort and the upcoming board meeting, there is growing hope that a middle-ground agreement could finally reopen SEBON’s operations.
