Citing his earlier professional background as an accountant, he pledged to deliver profits instead of losses to investors
Finance Minister AHM Mustafa Kamal on Thursday said not everybody in the share market is ethical, as many enter the market with plans to swindle money for their own gain.
He urged the capital market investors to keep trust on the government, as it has ensured good governance in the market through various reform activities.
Citing his earlier professional background as an accountant, he pledged to deliver profits instead of losses to investors.
The minister was addressing the opening ceremony of “Investors and Entrepreneurs Conference-2019” as the chief guest organised by the Bangladesh Securities and Exchange Commission (BSEC) in the capital’s Bangabandhu International Conference Centre (BICC).
“Economy will determine the index [of capital market] but you [investors] should keep trust on the government and set aside anxiety. You won’t be loser …… success of capital market must come,” he assured the investors.
BSEC has organised the conference to raise awareness among the people on the necessity of savings as well as teach people about investment.
Kamal recollected a personal anecdote, after which he said if business owners become greedy, then the investors would be most affected. “I had a company in the share market once, named CMC Kamal. I could’ve embezzled my investors’ money, but I didn’t,” he remarked.
Later he sold all his company shares in line with BSEC’s guidelines.
He opined: “The market belongs to all of us, hence we have to decide where we want to take it. It is a place where we are both buyers and sellers, we cannot treat it like a kitchen market or fish market.”
Bank and Financial Institutions Division Secretary Asadul Islam, and BSEC Commissioners Professor Helal Uddin Nizami and Swapan Kumar Bala also spoke on the occasion with BSEC Chairman Dr M Khairul Hossain in the chair.
“As finance minister it’s my challenge to keep the capital market stable or bring further dynamism,” Kamal said.
The minister said the investors must make investment with proper understanding so that nobody becomes loser.
He said economy can’t be considered leaving capital market aside, as it plays important role in country’s economic development. “The government is working for the development of the capital market adopting various reform activities.”
The finance minister the capital market requires one to be calculative and knowledgeable where one investor needs continued learning.
He also noted that the capital market has some problems as a few people always try to deceive others through false information, but “such avidity is not good as we are not enemies of each other here”.
‘Budget to be understandable to all’
In a pre-budget meeting at the National Economic Council (NEC) premises yesterday, Finance Minister Kamal said the budget speech for the upcoming fiscal 2019-20 will not a lengthy one and it will be understandable to all.
“I think, if we can make the budget speech within 15 to 20 pages, it will be understandable to all. We will make two parts of the budget. One will be in short form and another will be in broader form. We will engage people in the budget,” he said.
In the next budget, Kamal said, the government will cover components of all classes of people, including blacksmith, potter, fisherman and the people in the haor areas.
He urged the senior secretaries and secretaries to give new concepts for engaging all people in the budget.
The finance minister said the government will take separate projects for the haor areas aimed at improving the living standard of the country’s marginalized people.
Mentioning the revenue collection as the key theme for the budget, he said, the government will not give any pressure for collecting revenue.
Referring to the declaration of zero tolerance against corruption by the Prime Minister Sheikh Hasina, Kamal said, the budget is for all people of the country.
He urged all to help each other to implement the budget properly.
Source: Dhaka Tribune.
