The government has announced a decision to ban employees from being engaged in any share market-related activities in government offices. To implement the decision, the Office of the Prime Minister and the Council of Ministers have sent a letter to all the ministries, commissions, and local-level offices to suspend TMS (Trade Management System).
Besides, the TMS ban also extends to High Courts, Benches, District Courts, and agencies.
The decision was made after complaints grew that government employees invest their time in the share market to the extent that it profoundly affects public services. Earlier, CIAA (Commission for the Investigation of Abuse of Authority) had sent a letter to the office of the PM and the Council of Ministers. In turn, the executive head office made the decision to restrict TMS in all government offices.
TMS links investors with brokers for trading in the secondary share market activities. Know in detail about TMS and stock broker list in Nepal.
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Oli government announces TMS ban in government offices
Regarding the whole matter, the current PM KP Sharma Oli remarked that employees engaging in personal business endeavors such as share market activities during office hours is unacceptable.
“It is illegal from a legal point of view to do private business in the stock market while working in a government office. This has had an adverse effect on the government work and there are complaints that the public service has been affected. Addressing this public complaint, the government has now banned the share trading system (TMS) in all government offices across the country. All ministries, commissions, secretariats and local level offices have been instructed to make TMS non-functional.”
- Also check out: How to Apply for IPO in Nepal Easily?
The PM also requested government employees to only stress the public service in government offices. Oli-led government has also cut down lunch breaks from one hour to 30 minutes to improve public services.
Here’s the government’s official notice regarding the TMS ban in government offices:
Is the Oli government justified in banning TMS and share market operations in government offices and courts? Or are you doubtful of its implementation? Do share in our comment section below.