Short, medium and long-term plans are being made to overcome the ongoing instability in the capital market and restore stability, said the financial adviser of the interim government. Salehuddin Ahmed. The finance advisor said these things at a press conference after the meeting with the commission at the Bangladesh Securities and Exchange Commission (BSEC) building in Agargaon, capital today, Wednesday (October 30).

The advisor said that a detailed discussion has been held with the commission taking into account all aspects of the ongoing instability in the market. Short, medium and long-term plans are being made to restore stability in the capital market. I don’t want to go into details about the plans. We are hopeful that stability will return to the market once all the plans are implemented.

Finance advisor. Salehuddin Ahmed BSEC Chairman Khandkar Rashed Maksud, Commissioner Mu. Mohsin Chowdhury, Md. Ali Akbar, Farzana Lalarukh and other senior officials held the discussion meeting.

Chairman Khandkar Rashed Maqsood said, BSEC has presented proposals regarding short, medium and long-term policy support for capital market reform and development to the finance advisor on behalf of BSEC. He took things very positively. And assured to take further steps to take decision in this regard.

He also said that a decision will be taken regarding policy support for the development of the capital market. Some of which will be implementable in the short term, while others will be implemented in the medium and long term.

The areas of initiatives that have been proposed include taking necessary measures to increase liquidity supply in the market, assisting in providing funds to increase the investment capacity of the state-owned investment institution Investment Corporation of Bangladesh (ICB), taking necessary measures to use the money collected by BSEC through fines for the protection of investors, Reforming the IPO law and providing tax incentives to bring public and private good and profitable companies to the market faster, reducing the settlement time of the stock market to one day, finally settling the amount of unpaid accumulated negative debt (negative equity) in the lending institutions, high net worth individuals. Reduction of capital gains tax rate to encourage investment, determination to introduce share buyback system, no future imposition of floor price on increasing foreign investment, ensuring good governance and due observance of law.