Economic Reporter :
Finance minister AHM Mustafa Kamal has said that the government will take all necessary policies to strengthen the stock market as soon as possible.
He also vowed that the existing laws would be enforced so that none can harm the capital market by spreading rumours.
“We will stop rumours in any way. If law has to be implemented strongly, we will do that. Even we will take all necessary policies to strengthen the market,” the finance minister said after a meeting with Dhaka Stock Exchange (DSE) at his Agargaon office on Thursday.
He said in order to facilitate the capital market for making a turn around and to stop these rumours, the existing laws would be much more compliant and would be fully enforced.
Answering to a question, he said the concerned agencies would be able to play their due roles in the market when the concerned laws would be strengthened.
“If there is any loophole in the laws, then it won’t work. I’ve asked the chairman of the BSEC to look into this matter. The concerned laws would be made cent percent compliant,” he added.
Asked about the various demands raised by the DSE, Kamal said the DSE authorities have requested me to reduce the rate of tax. “I’ve assured them of considering this demand,” he added.
Referring to the demand from the DSE to bring some good shares in the capital market, the finance minister said, “I’ve assured them, but couldn’t give a specific timeframe when it will be possible. We’ll bring the shares of those state owned enterprises first which have good fundamentals.”
Kamal also underscored the need for addressing the legal weaknesses of the Bangladesh Securities and Exchange Commission (BSEC) in a bid to bring much more compliance into the operations of the capital market regulator.
He said the government would take steps against those who are influencing the capital market through various rumours and the BSEC has been given directives in this regard.
Responding to the demand of many to devaluate Taka against US Dollars, he said that Taka would not be devaluated against Dollars and there is no such need for that.
DSE Director Minhaj Mannan Emon said they discussed with the finance minister about the current situation of the stock market. “The minister assured us to address all of our demands. We hoped that our market will strengthen soon.”
Finance minister AHM Mustafa Kamal has said that the government will take all necessary policies to strengthen the stock market as soon as possible.
He also vowed that the existing laws would be enforced so that none can harm the capital market by spreading rumours.
“We will stop rumours in any way. If law has to be implemented strongly, we will do that. Even we will take all necessary policies to strengthen the market,” the finance minister said after a meeting with Dhaka Stock Exchange (DSE) at his Agargaon office on Thursday.
He said in order to facilitate the capital market for making a turn around and to stop these rumours, the existing laws would be much more compliant and would be fully enforced.
Answering to a question, he said the concerned agencies would be able to play their due roles in the market when the concerned laws would be strengthened.
“If there is any loophole in the laws, then it won’t work. I’ve asked the chairman of the BSEC to look into this matter. The concerned laws would be made cent percent compliant,” he added.
Asked about the various demands raised by the DSE, Kamal said the DSE authorities have requested me to reduce the rate of tax. “I’ve assured them of considering this demand,” he added.
Referring to the demand from the DSE to bring some good shares in the capital market, the finance minister said, “I’ve assured them, but couldn’t give a specific timeframe when it will be possible. We’ll bring the shares of those state owned enterprises first which have good fundamentals.”
Kamal also underscored the need for addressing the legal weaknesses of the Bangladesh Securities and Exchange Commission (BSEC) in a bid to bring much more compliance into the operations of the capital market regulator.
He said the government would take steps against those who are influencing the capital market through various rumours and the BSEC has been given directives in this regard.
Responding to the demand of many to devaluate Taka against US Dollars, he said that Taka would not be devaluated against Dollars and there is no such need for that.
DSE Director Minhaj Mannan Emon said they discussed with the finance minister about the current situation of the stock market. “The minister assured us to address all of our demands. We hoped that our market will strengthen soon.”
