Dhaka, Sept 16 (UNB) - Finance Minister AHM Mustafa Kamal has said the capital market will be strengthened soon to spur economic growth.
"There’re some faults and mismatches in the stock market. These will be resolved soon. So we’ll form a committee to scrutinise irregularities in the market," the minister said after a views-exchange meeting with capital market stakeholders at the Port City’s NEC auditorium.
Terming it the basic market, Mustafa Kamal said: "We cannot neglect it. We'll keep a special eye on it now. We do not want that investors in the market get affected here.
"We have nothing to do without improvement of the market now. We will remove all challenges of the market so that a good position prevails . All state run companies must enter the capital market.
The minister said that the government is prioritising good governance.
"No one can claim that the government does not want justice. We will bring all level of people under justice. We want to establish the market. Prime Minister announced zero tolerance against any sort of corruptions. We will bring
public trust in the market," he also said.
He further said that the market will operate on its rules and regulations.
"How the shares of closed factories are purchased and sold in the market? We will observe it. Local companies will also come in to the market. We won't forgive those who are involved in shooting up prices illogically in the market," he also said.
Talking to reporters after the event, noted economist Dr Mirza Azizul Islam, who also served as chairman of the Bangladesh Securities and Exchange Commission, or BSEC chairman from 2002-5, said that cooperation is needed between financial regulatory bodies (including Bangladesh Bank, NBR, IDRA) to insulate the capital market from existing crises.
"Besides, the banking sector should be improved," he also said.
NBR chairman Mosharref Hossain Bhuiyan said, "We gave tax facilities well in the market. We will give more facilities for the sake of the capital market if it gains."
Bangladesh Securities and Exchange Commission (BSEC) Chairman M Khairul Hossain. Bangladesh Bank governor Fazle Kabir, Dhaka Stock Exchange (DSE) chairman Dr Abul Hashem, Chittagong Stock Exchange (CSE)'s chairman Maj Gen Mohammad Shamim Chowdhury (retd), chairdfrom state run banks and others were present in the program.