Finance Minister AMA Muhith said this when the newly elected office bearers of Dhaka Stock Exchange Brokerage Association (DSEBAB) went to meet him at his ministry auditorium yesterday.
The capital market is volatile since the share price crash in 2010.There is a negative equity of Tk6,000cr in the market due to the crash. The small brokers, who took loans from the merchant banks, could not repay the debt. If the banks release the bonds, they can recover the loss and increase money supply to the market.
Muhith also said: “We have already identified the key persons who have delayed off-load of 26 state-owned companies shares”.
DSEBAB leaders also demanded for a two-year extension of the tax holiday benefits and capital gains tax on the facilities for the development of the capital market.
The meeting was attended, among others, by DSEBAB President Ahmed Rashid Lali, Vice President Mushtaq Ahmed Sadiq, Noor-e-Naharina Khujista. Director Abdul Haque, Shahed Abdul Khaliq, Zahirul Islam, and Richard de Rozario.
Urging the minister to give capital tax benefit, DSEBAB President said: “DSE has been making operating loss during the last couple of year.”
Lali also requested the finance minister to determine the policy on how to offset the negative equity of Tk6,000 core of capital market Marchant bank.
He also demanded loan package from the Asian Development Bank (ADB) under the Capital Market Strengthen Project.