Money

CIT opens branch office in Pokhara

- Post Report, Kathmandu
Finance Minister Ram Sharan Mahat inaugurated the CIT branch on Wednesday

Sep 24, 2015-The Citizen Investment Trust (CIT) has opened a branch in Pokhara. The office will look after its business in Gandaki, Dhaulagiri and Lumbini zones.

Finance Minister Ram Sharan Mahat inaugurated the CIT branch on Wednesday. Speaking on the occasion, he said that the CIT should increase investment in infrastructure and the welfare of employees,” he said.

Mahat also asked the CIT to work as a market maker in the capital market.

The government had planned to mobilize the CIT as a market maker a few years ago, but the plan has not yet materialized.

The market maker plays the role of a stabilizer in the volatile capital market by making large scale purchases of shares when there is a glut, and sales when there is a shortage, so that prices don’t fluctuate wildly under the influence of speculative investors.

A director of the CIT Surya Prasad Acharya said that the CIT was committed to mobilizing savings, promoting investment and contributing to the capital market.

“The CIT has a greater responsibility with the expansion of branches,” he added.

Published: 24-09-2015 08:38

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment