Kathmandu. The proposal to charge an additional one percent fee on share trading will be withdrawn. The Ministry of Industry, Commerce and Supplies has proposed to remove the provision of charging additional one percent fee on share transactions made in the Companies Act-2083.

The Ministry has started the process of removing the proposal from the draft of the Act following widespread protests over the fee included in the draft of the Act. 

According to Section 89 of the Drafting Act, the person receiving the right should pay a share transfer fee at the rate of one percent while recording the details of such shares in the Company Registrar’s Office.

However, after many people expressed dissatisfaction with this provision and there was widespread opposition, the provision was removed from the draft and the process has already started, a senior official of the ministry has confirmed.