It’s an evil market: Muhith

Finance minister says he has done enough for stockmarket, hits out at critics of rental power plants

Finance Minister AMA Muhith says he has done enough for the stockmarket, but the market is not improving.

“It’s an evil market. I won’t comment on it.”

অর্থমন্ত্রী বললেন ‘দুষ্টু শেয়ারবাজার’

An apparently frustrated Muhith yesterday responded to lawmaker Rashed Khan Menon’s criticism of the stockmarket in parliament during the passage to the supplementary budget for the outgoing fiscal year.

But Muhith did not explain why it is an evil market.

Though at the beginning of his speech the minister said he would not comment on the stockmarket, he gave full vent to his feelings in an outburst at the wrap-up.

Muhith said the government plans to demutualise the Dhaka and Chittagong bourses by December and he would only talk about the market once demutualisation is done.

The minister also said the reason behind so much excitement over the stockmarket is that the prime bourse is located in Motijheel. He did not provide an explanation.

Most of the stock investors are young and buoyant with a lot of enthusiasm and the number is around 11 lakh, he said.

“The economy will not suffer if I don’t worry about the stockmarket.”

Coming down heavily on the critics of quick rental power plants, Muhith said achieving the country’s expected economic growth would have not been possible without such power plants.

After his speech, the parliament gave a go-ahead to the Tk 8,880.47 crore supplementary budget for additional spending by ministries and divisions during the current fiscal year.

The railway ministry had the highest extra spending at Tk 3,890 crore, followed by agriculture at Tk 1,854 crore.