Kathmandu, Dec. 6 -- The Securities Board of Nepal (Sebon) has moved to issue licences to new brokerage firms outside the Kathmandu Valley even as existing companies are having a hard time keeping their head above water.

On Monday, Sebon wrote to the Nepal Stock Exchange (Nepse) to provide permits to new brokerage firms. The regulator decided to open the gates to new firms citing a possible rise in stock trading after Nepse's system runs effectively, said Sebon spokesperson Niraj Giri.

According to Giri, Sebon plans to issue operating licences on a province-wise basis.

"We will issue permits based on the volume of commercial activities in each province except Province 3 that includes the Valley," said Giri, adding that Sebon was yet to...