March 1: The Securities Board of Nepal (SEBON), which was established almost three decades ago in 2050 BS, is still operating in a rented house. Preparations for the construction of the board's building started a decade ago, but it has not been completed yet.

The board’s initiative to build its building gained momentum a year ago after Ramesh Kumar Hamal took over the leadership of the board for the remaining term of two years.

One year has passed since Hamal assumed the responsibility of the board’s chairman. The Council of Ministers on February 17, 2022 decided to appoint Hamal as the board’s chairman for the remaining term. As per the cabinet decision, Hamal will lead the board till January 8, 2024.

Hamal has been saying that since he took over the leadership, the construction of the board's building has been given top priority. He is of the view that setting up the central office of the board on a piece of land at Jadibuti for which the board had already paid money would cause  inconvenience to the service seekers. According to Hamal, he submitted a proposal to the SEBON board of directors stating that if the board needs to purchase a new building it should purchase a government building.

Stating that the initiative to purchase a government building at a place suitable for the service seekers is continuing, he said that he is preparing to move the board’s office for the time being by renting four floors of the new building of the start-owned Rastriya Banijya Bank (RBB).

"We have offered to lease four floors of the new building of the RBB in Thapathali, Kathmandu," he said, "If the bank agrees, the board office will soon move from Khumaltar in Lalitpur to Thapathali."

Three years ago, the board had paid the Kathmandu Valley Development Authority a sum for seven ropanis of land at Jadibuti at the rate of Rs 3.8 million per anna. Information officer of the board, Tej Prasad Devkota, said that even though the authority has recently asked the board to take back the money, the board has insisted for the land. According to Devkota, the board was requested to take back the money after the authority failed to bring the Jadibuti land under its ownership.

According to Shubash Aryal, the administrative officer of the authority, they purchased 13 ropanis and 14 annas of land with its own money but that land fell under the Manohara Land Consolidation Project.

Devkota says that the current office of the board at Khumaltar will be insufficient for the increasing number of employees.

Devkota said that after the recruitment of 23 people who were in the process of appointment, there will be 95 employees at the board, so the current office will not be enough.

The board has been paying Rs 800,000 in rent per month for its Khumaltar building. 

Apart from Jadibuti, the board also has land in Satdobato. The board had taken the land on lease for 50 years for the construction of a building. As the traffic police have built a temporary building at the place where the foundation of the building has also been laid, the board has been unable to construct its own building.

Traffic police has been paying Rs 12,000 as rent for the land.