Opp MPs seek PM’s intervention in bourse

DSEX, the benchmark index of the Dhaka Stock Exchange, shed 1,882 points, or 31.63 percent, since February last year.

“If the prime minister intervenes then the share market can be revamped,” Rashid said, adding that there are reports of bourse’s deplorable situation in the media every day.

Quoting expert opinions he said the absence of good governance was failing to give confidence to investors to put in more money.

“This is an ominous sign for the market.”

The listing of weak companies was causing the fall, Rashid said, while criticising the Bangladesh Securities and Exchange Commission (BSEC) heavily.

“The BSEC is the authority for this listing. Some merchant banks and issuers are bringing these weak companies in the market.”

So far no punitive measures have been taken against the BSEC or anyone for bringing such rotten companies.

He questioned how a Tk 10 share can get listed with Tk 30 in premium, how these shares came to the market, why the issue managers were not being arrested and why the merchant banks were not being held accountable.

BNP MP Harunur Rashid criticised ministers, including Finance Minister AHM Mustafa Kamal, saying they do not see any devastation in the share market.

“They said that there is no crisis. We are astonished, for the last one week people are lying on the roads due to debacle in the share market. They are crying, thousands of families are getting ruined, but the government is not taking any visible steps that would assure us,” he said.

The opposition MP said that news has been published in the newspapers that the foreign investors are going away from the share market.

He also questioned the finance minister about the actions he has taken to save the share market.