Chief Adviser's 5 instructions to improve capital market situation

Chief Adviser Professor Muhammad Yunus has given five instructions to the concerned to improve the country's capital market situation.

The chief adviser gave these instructions at a meeting held with the concerned at the State Guest House Jamuna on Sunday.

The principal adviser's five instructions are - taking necessary steps to include government-owned multinational companies in the capital market by reducing the government's share; taking necessary steps, including incentives, to encourage large domestic companies in the private sector to list in the capital market; bringing in foreign experts to reform the capital market within three months to prevent manipulation by vested interests; taking strict action against everyone involved in irregularities in the capital market; and taking measures to encourage business institutions that need large loans to reduce their dependence on bank loans and raise funds from the capital market through bonds and equities.

Stating that people's trust will not be restored unless those involved in the looting of the stock market for the past few decades are brought to justice, the chief adviser said in the meeting, "The state the stock market has been brought to is unimaginable. We must overcome this situation."

Muhammad Yunus said, "We must restore the stock market to a state where people regain trust through necessary reforms, so that it does not become a den of looters."

Among others present at the meeting were Financial Adviser Salehuddin Ahmed, Special Assistant to the Chief Adviser on the Ministry of Finance Anisuzzaman Chowdhury, and Bangladesh Securities and Exchange Commission (BSEC) Chairman Khandaker Rashed Maksud.