Muhith raps market protesters
Finance Minister AMA Muhith yesterday harshly criticised the investors who staged street protests against a share market plunge.
"They are not real investors. They better leave the market,” he said.
“They actually came for speculative gains. The real investors do not agitate,” said Muhith, after a meeting with Securities and Exchange Commission Chairman Khairul Hossain at the finance minister's office.
The minister questioned the tendency of investors to expect a constant rise in share prices. Muhith advised the investors to hold on to the shares and wait, instead of selling them, when prices fall.
Replying to a question as to whether the share market was stable, the minister said the index was still above 6,000 points.
Muhith ruled out any connection between the Bangladesh market and the economic crisis in the emerging world. However, he said the economic crisis has a link with the country's trade. “Bangladesh will be more affected by a second recession than it was by the first.”
The investors should always purchase shares judging by the fundamentals of shares, SEC Chairman Khairul Hossain told reporters.
Hossain vowed punitive action against those who were found guilty in the report by the probe committee formed by the government on the January market crash.
“The commission has been working on it.” Hossain, however, said the guilty will be given an opportunity to defend themselves.
On the book building system, Hossain said a final decision will be taken on the issue by August 11.