Lack of right men delays reforms
Finance Minister AMA Muhith has said they have not yet found competent persons for restructuring the Securities and Exchange Commission (SEC) after a probe held it largely responsible for the recent share market debacle.
The minister said this yesterday at a view exchange meeting with editors and senior journalists of different print and electronic media at the conference room of his ministry.
"Restructuring of SEC is extremely difficult... The stockmarket has reached such a stage that it is impossible for a person to sit there and learn the subtleties of the market regulations," observed Muhith.
Many of the editors criticised the government for failing to take any step against the market manipulators, though the probe committee submitted its report weeks ago.
The probe committee, led by Khondker Ibrahim Khaled, submitted its investigation report to the finance minister on April 7. The report recommended removal of SEC chairman and its high officials.
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