Muhith to bring ‘medicine’ to cure stock market
Finance minister AMA Muhith on Wednesday once again called country’s share market as a ‘wicked’ one, adding that the government would bring medicine to streamline it.
Muhith made the statement yesterday when journalists drew his attention to his Monday’s remark on the country’s stock market which drew huge flak.
While delivering his speech over the supplementary budget in the parliament on Monday, Muhith said about the stock market, “It is a wicked share market and I do not want to make any comment on it”.
His statement also sparked sharp reaction from the main bourse and small investors. The Dhaka Stock Exchange (DES) authorities criticised Muhith’s statement through organising a press conference.
“Not just a section, everybody who lacks enough liquidity but invest in the market are wicked, the finance minister told journalists yesterday after attending two meetings with the leaders of Ocean Going Ship Owner Association and Supper Market Shop Owner Association at the finance ministry conference auditorium at the secretariat. About DSE’s criticism, he said the DSE authorities had the right to criticise him.
In support his Monday’s statement, Muhith further said, “I am frustrated as the market did not bounce back according to my expectation and my frustration has led me to make such comments”.
He said, “We will see some basic differences from December”, after the demutualisation of the market is completed, he said.
Regarding fuel price hike, Muhith said, “The government will soon finalise a mechanism to fix the fuel prices in line with the international market rates”.
"The energy ministry is currently working while discussion with the Bangladesh Energy Regulatory Commission is going on in this regard," he added.
The Daily Sun/Bangladesh/ 14th June 2012