Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Chief Advisor's special assistant Dr. Anisuzzaman Chowdhury has promised budgetary support to help revive the country's ailing capital market.
His assurance came on Thursday at a meeting held with representatives from different associations of general investors at the office of the Bangladesh Securities and Exchange Commission (BSEC).
Referring to what Anisuzzaman had said in the meeting, a BSEC press release said positive measures would be taken for market's development in the upcoming budget for FY26.
"Market-supportive measures will be taken through coordination between state-run and capital market related organisations," reads the press statement.
At the meeting attended by the BSEC chief and commissioners, the CA's special assistant suggested formation of an apex body that would represent investors of the capital market.
Such an association would facilitate communication between investors and the government and the securities regulator.
At the meeting, associations of investors made several proposals including a waiver of dividend and capital gain tax, strong punitive measures against market manipulators and introduction of buyback rules.
Apart from a proposal for listing of multinational companies, investors demanded investment-friendly measures for the capital market.
They also said reforms should be implemented keeping the equity market 'stable' as it continues to suffer unabated erosion amid reform plans widely announced by the securities regulator and the government as well.
While the BSEC's reform plans are to be implemented based on the reports of the taskforce, the Ministry of Finance recently formed a committee to suggest measures for strengthening the regulatory body and the foundation of the capital market.
Meanwhile, the chief advisor's spokesperson Shafiqul Alam on Sunday spoke about the government's plan to enforce reforms through a panel of foreign experts to avoid conflict of interests.
Despite the repeated announcements of the government's commitment to reforms, the equity market has continued to witness erosion and the broad index of the Dhaka bourse has lost a total of 603 points or 11.55 per cent since January 1 this year.
mufazzal.fe@gmail.com