Govt mulls six measures to revive stock market

Government high-ups and stock market regulator at an emergency meeting on Thursday decided to implement six short-term measures to revive the country’s ailing stock market. 

The meeting was held at Prime Minister Office in the capital. 

According to the statement of Bangladesh Securities and Exchange Commission (BSEC), the meeting discussed that banks and non-bank financial institutions would be asked to increase their investment in the stock market.

The meeting also directed to enhance the investment capacity of state-run Investment Corporation of Bangladesh (ICB).

Initiatives to enlist on the stock market good companies including multinational and government-owned companies were also emphasized at the meeting.

It suggested that merchant bankers and institutional investors should give loan facilities on easy terms.

Necessary measures should be taken to attract foreign investment and build their confidence in the country’s stock market.

Meanwhile, four state-run banks on Sunday decided to increase their investment in the stock market.

As part of regular meeting among the chairman and managing director of Sonali, Rupali, Agrani and Janata banks met on Thursday at the board room of Sonali Bank. 

The meeting emphasized increasing investment in the capital market and also instructed the officials to take necessary steps in this regard. 

In the first 10 trading sessions in the new year, the market lost Tk26,154cr or 7.7% capitalization in continuation of the last year's Tk51,732 crore or 12.33% market cap loss. The key index, DSEX, of Dhaka bourse lost 416 points in the sessions.