Finance Minister AMA Muhith yesterday again harshly criticised investors who are engaged in “destabilising” the stock market.
“Lots of investors are in the market. But all are not genuine investors. They are just fatkabaz (speculator),” said Muhith, after a meeting with securities regulator and stock exchanges at at the finance minister’s office.
He held them responsible for creating “instability” in the stock market that is now going through volatility.
The minister hoped that demutulised stock exchanges will break the tradition that investor himself is a trader and broker. “But after demutulisation, the tradition will end but take time and every body will play their due role to bring discipline in the market.”
Chairman of Bangladesh Securities and Exchange Commission M Khairul Hossain said the regulator is never responsible for creating instability in the stock market, as it is not involved with daily trading.
“We are regulator that just monitor the market and accordingly take action against manipulators, if anybody found guilty.”
The investors should always purchase shares judging by the fundamentals of shares, he advised the investors.
Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) put some recommendations, including capital gain tax, to reconsider in the proposed budget.
They also urged the minister to take steps for encouraging big and profitable company in the market.
Banking division secretary M Aslam Alam, DSE Chairman Siddiqur Rahman Miah, CSE Chairman Muhammad Abdul Mazid and other high officials were present at the meeting.