Finance Minister blames coronavirus outbreak for share market turbulence

Finance Minister Yuba Raj Khatiwada presents the annual budget plan, in Kathmandu on Wednesday, May 29, 2019.

Kathmandu, March 12

Minister for Finance, Yuba Raj Khatiwada, has blamed the global outbreak of coronavirus infection for recent unexpected ups and downs in the country’s share market.

Responding to the lawmakers’ concerns during a discussion on the bill to amend the Securities Act in the House of Representatives meeting on Thursday, the minister said, “The recent trend is short-term. Seeing this, we should not develop a long-term opinion.”

During the discussion, a few lawmakers had said the unexpected recent changes in the market were caused by the minister’s ‘unpopular’ image in the market. Dismissing the accusation, Khatiwada said, “Shares are bought considering the present and future financial status of a company. They are traded considering the government policies and the status of their implementation. A single person does not affect the share market.”

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