NC President Vows to End Delays in Lawmaking Process

Kathmandu: Nepali Congress President Gagan Thapa has stated that the process of lawmaking will be accelerated without restricting the authority of the legislature.

Speaking during a Q&A session at the "Congress Electoral Commitment with Gagan Thapa" program held on Thursday, he clarified that the concept of fast-track legislation is intended for delivering quick results rather than cutting down rights.

He mentioned that the party's plan includes making parliamentary committees more effective, providing necessary resources, and creating an environment where stakeholders outside of parliament can participate in bill discussions.

"Fast-track is about delivering results quickly. Regarding how to implement fast-track legislation, we will ensure that parliamentary committees are more effective, provided with more resources, and that stakeholders outside parliament can participate while a bill is being discussed," he said. "What we want to reduce is unnecessary delay, not authority."

Thapa noted that laws related to the School Act, Health Act, Dalit Rights Implementation Act, and security and police management have not been introduced on time. He expressed commitment to finalizing these acts quickly by increasing the legislative capacity of parliament.

He further clarified that the legislative rights of parliamentarians would not be curtailed in the name of fast-track law construction.

Similarly, he stated that the Congress has prioritized capital market reforms. He mentioned that advanced monitoring systems would be implemented to stop insider trading and unnatural manipulations, and the Investor Protection Fund would be made effective and fully implemented for the benefit of small investors.

With the aim of making the securities market credible, he said the Securities Board of Nepal (SEBON) would be made fully autonomous. Additionally, structural reforms of the Nepal Stock Exchange (NEPSE) and CDS and Clearing Limited would be carried out to bring the settlement system up to international standards.

"To stop insider trading and unnatural manipulations, we will implement advanced monitoring systems and make the Investor Protection Fund effective and fully operational for the benefit of small investors," he said. "By making the Securities Board fully autonomous and reforming the structure of NEPSE and CDSC, we will make the settlement system world-class."

He added that through its electoral manifesto, the Congress has moved forward with an agenda to make the lawmaking process faster, parliament more effective, and the capital market transparent.