The minister sees no affect of global stock meltdown on country's capital market
Bdnews24.com . Dhaka
Finance minister AMA Muhith on Sunday termed demonstrators at the stock market fatkabaj (speculators) as they were trying to make a quick buck.
This comes following a demonstration in front of the Dhaka Stock Exchange where small investors demanded resignation of the finance minister and the central bank governor for 'their failure to stabilise the market'.
'There is no investor in the demonstration. They [demonstrators] are "fatkabaj". Real investors never demonstrate,' Muhith told reporters at the finance ministry after a meeting with the Securities and Exchange Commission.
Suggesting that people should invest wisely in the stock market, he said the government was initiating several measures to stabilise the market.
Asked whether the falling share prices across the world had any influence in Dhaka, Muhith replied in the negative.
About a meeting with SEC chairman M Khairul Hossain earlier in the day, Muhith said they had discussed the book-building system.
After the meeting, Khairul told reporters that the investors had nothing to fear as steps would be taken to stabilise the market.
He suggested the investors to invest in shares with strong fundamentals.
About the suspended book-building system, he said there would be decision by August 11.
The SEC chief also said those responsible for the capital market debacle would be tried under the existing law.
The investors took to the streets in front of the DSE protesting a sharp fall on Sunday.
They carried placards that read 'Stop interference in the capital market by National Board of Revenue'.
They also chanted slogans demanding prime minister's intervention to stabilise the capital market and resignation of the Bangladesh Bank governor and the finance minister.
The DSE general index shed 139.74 points or 2.22 per cent to stand at 6120.16 points on Sunday.
On Saturday, Muhith on the recent stocks fall said that those who expect a rise in the capital market everyday are nothing but insane.
He said that the revamped market regulator was taking several new steps for the stability of capital market and that he was happy with its work.
Source : New Age
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