NEPSE Shutdown Exposed a Bigger Problem
NEPSE reopened after a ransomware attack forced a one-day market closure. But the incident exposed a deeper problem: an undercapitalised, state-owned monopoly with no chief executive and a restructuring plan stalled at the Ministry of Finance since 2023.
NEPSE closed for a day on 21 September after ransomware locked 72 of 90 brokers out of their terminals. The exchange is 89% owned by the state and its institutions has no chief executive and its restructuring plan has been at the Ministry of Finance since December 2023.
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