While the Daily Star was busy printing cartoons covering Khaleda Zia’s u-turn on the role of army, a smaller u-turn by our esteemed Finance Minister was predictably not covered. This is in line with Daily Star policy of being understanding towards Awami League blunders.
On Thursday, Finance Minister AMA Muhith suggested that the Hallmark factories could be re-opened. On the face of it, there’s nothing wrong with this idea. These are idle assets that can generate funds. These funds could then be used for the costs of the investigation and recovery of the embezzled money.
The devil was in the details of course. He suggested that the directors under arrest could be released on bail to run the company again. Neither Muhith nor any of his cabinet colleagues have the power to grant bail – a court does. He did not specify how he was sure that they would get bail.
Rightly, that struck a lot of people as indications of a back door deal with the perpetrators.
By Sunday Muhith had backtracked. The media had mis-reported his remarks, he said. He only had the good of the 40,000 workers at heart. Outside administrators would be appointed to the company, though again the legal basis for that is somewhat hazy. No mention of anyone getting bail.
Of course people need jobs, administrators need funds, working assets are better than idle assets. Those are actually pretty good economic policies. But letting disgraced directors under investigation run the company again? There are two words for that: crony capitalism.
By simply suggesting that and then trying to get the water back into the broken jug, he has possibly hurt the job prospects of 40,000 people.
Even when he is half-right, Muhith remains the wrong-eela.
Source: ALAL O DULAL
There is reasonable doubt that the FM is maybe indirectly involved in almost all the scams of share market, Hallmark, Destiny, Unipay2, Bismillah etc or else how could he say that 4500 crore is not that big amount or bail out Hallmark group with more money pumped out of public deposits? In fact in the guise of a very ‘efficient’ person he has almost ruined public trust in national banks as has been evident in the fact that Sonali Bank can hardly stand without financial support by the govt. What an achievement of a successful (?) FM! He’s been an avowed ‘enemy’ (as his words came in newspapers) to Dr. Yunus, trying every means to defame him and swallow the GB whereas his apparently wily dealing with the WB has shattered the long cherished dream of Padma Bridge. Bravo dear FM!