Kamal denies involvement
AHM Mostafa Kamal, chief of the parliamentary committee on finance ministry, yesterday brushed aside allegations of his involvement in the recent share market scam.
Talking to reporters after a meeting of the committee at Jatiya Sangsad Bhaban, he rather asked them to prove his link in the scam.
“I won't say I'm innocent. But prove that I was involved with the share market crash, if you [journalists] can,” said Kamal, also known as Lotus Kamal, when asked about his connection in the capital market debacle.
"Many accusations were brought against me during the last caretaker government. But I was acquitted of all the cases though I was considered the main suspect. So I don't count any such allegations.”
Kamal, an Awami League lawmaker, added that the market index did not fall for his comment or action during the turmoil in the capital market from late last year till early this year.
The probe report on the market debacle mentioned that the share price of CMC Kamal, one of his firms, was revalued in 2009 and 2010. The probe team also identified some reasons behind that.
On this, he said the report said those were all predictions.
The House body will sit in a special meeting after the budget session to discuss the market collapse where he will explain his position on the allegations brought against him.
The meeting will be presided over by Ali Ashraf instead of him.
About yesterday's discussion, Lotus Kamal said the parliamentary body recommended the finance minister not to make tax identification number (TIN) mandatory to maintain BO (beneficiary owner) account or impose fresh tax on the income form stock market.
“Tax on dividend income should be reduced to 10 percent from 20 percent at individual and corporate levels, while no tax should be imposed on BO account,” he said.
The committee also recommended lowering corporate and individual income tax.
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