Govt working to restore confidence of investors: Finance adviser
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Finance Adviser Salehuddin Ahmed said the interim government is working to restore the confidence of investors in the capital market.
Several measures have already been taken to restore confidence, and some are underway to support the capital market and bring back investors’ confidence, the finance adviser said.
“Initiative has been taken to enlist well-performing local and multinational companies along with state-run profitable entities,” he said to reporters after holding a meeting with the stock market stakeholders on Tuesday.
The meeting aims to address the ongoing challenges in the country’s capital market and determine actionable steps to resolve the crisis.
The DSE has organised the meeting in the presence of representatives from various key organisations, including the Bangladesh Securities and Exchange Commission, Bangladesh Bank, National Board of Revenue, Chittagong Stock Exchange (CSE), DSE Brokers Association, Bangladesh Merchant Bankers Association, Central Depository Bangladesh, Central Counterparty Bangladesh, Investment Corporation of Bangladesh, and the Financial Reporting Council.
Several measures have already been taken. Various types of support, including liquidity, are being provided, he said, adding that the government disbursed Tk 30 billion in low-cost funds to the state-run Investment Corporation of Bangladesh.
“We have sat with the representatives of brokerage firms, stock exchanges, and market stakeholders to discuss their advantages and disadvantages. We are confident that the market will improve,” he added.
Professor Abu Ahmed, chairman of ICB, said, “We have discussed providing fiscal incentives like various exemptions, including duties in the budget, to attract foreign and well-performing companies to the market.
“We are expecting the upcoming budget will include such measures,” he added.
BSEC Chairman Khondoker Rashed Maqsood and DSE Chairman Mominul Islam, were also present, among others, at the meeting.