BSEC chair meets Salehuddin over market reforms

Amid the persistent fall of stock indices, the chief of the securities regulator on Monday met the finance adviser to discuss the implementation of recent directives from the chief adviser to help rejuvenate the market.

After the meeting, Bangladesh Securities and Exchange Commission (BSEC) Chairman Khondoker Rashed Maqsood told the press that they had talked about the mode of implementation.

Replying to a query, he said they had also discussed the demands raised by various stakeholders ahead of the national budget. Finance Adviser Dr. Salehuddin Ahmed assured him of looking after the matters.

The country's two bourses have been experiencing free fall of indices for a couple of months, compelling small investors to take to the street. A group of investors have been demanding resignation of Mr Maqsood for his "failure" to bring back stability in the market.

Following the continuous market plunge and growing protests by general investors, Chief Adviser Prof Muhammad Yunus at a meeting on May 11 issued five directives, including measures for the listing of profitable state-owned enterprises (SoEs) and multinational companies (MNCs), where the government has stakes.

Apart from efforts to list good companies, the CA suggested engaging foreign experts in comprehensive reforms to the stock market within three months. He also ordered strict and immediate punitive measures against those involved in manipulation in the market.

syful-islam@outlook.com