bdnews24.com :
Finance Minister Abul Maal Abdul Muhith has blamed speculators for the capital market instability and said they are not ‘real investors’.
“Speculators, not the real investors, are responsible for the instability in our capital market,” he said while speaking at a post-budget meeting with Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) officials at the finance ministry on Thursday.
Muhith said: “The capital market has not been a capital market in real term. I don’t know if there is any long-term investment here.”
Bank and Financial Institutions Division Secretary M Aslam Alam, Securities and Exchange Commission Chairman M Khairul Hossain, DSE Chairman Siddiqur Rahman Miah and CSE Chairman Abdul Mazid among others were present at the meeting.
The finance minister said: “Demutualisation has just completed. It’s good news for the capital market.
“But some more days will be needed for getting the benefits of the demutualisation. It won’t happen overnight.”
He asked the relevant people to raise long-term investment in the share market.
Muhith sought suggestions on how the companies yet to be listed on stock exchanges could be brought to the capital market.
As the office-bearers of the two bourses raised the issue of taxes proposed on the income from the capital market in the national budget for upcoming financial year, beginning on July 1, he advised them to discuss the matter with the National Board of Revenue.
Secretary Aslam said demutualisation was done to ensure transparency, accountability and good governance in stock exchanges.
He hoped that the demutualisation would enhance investors’ confidence in the capital market.
