Staff Correspondent
Published:2024-10-22 05:48:20 BdST
Govt to list state-owned companies in stock market
The big, medium and small investors are expected to get benefits soon from the capital market as the government has taken various steps to give support to the bourses.
Initiatives have already been taken to enlist state-owned enterprises (SOEs) in the capital market to expand its size and creating newer scopes for investments in the share market, said a Finance Ministry press release.
If those SOEs are enlisted in the capital market, then the enterprises would have to exercise corporate practices and thus they would have to publish information on their business operations regularly paving the way for ensuring transparency and accountability, it added.
“The government is hopeful that with the enlistment of the state-owned enterprises in the capital market, the depth of the capital market would be further deepened while the capital base of the state-owned companies would be further strengthened,” said the Finance Ministry release.
It said that the government would consider the issues of those investors who were affected over the years due to poor state of the market as well as the market manipulation and thus provide them some facilities.
The release said that during the last 15 years of the fallen Awami League government, there were unbridled looting in the capital market like other sectors of the economy.
During this time, numerous weak and almost non-existent companies were listed with the capital market and these companies have now become a burden for the capital market.
Gradually the true face of these companies is being revealed. On the other hand, the unbridled manipulation of the market has led to the massive increase in the share prices of weak fundamental junk companies, and thus snatching away of ordinary investors' money.
Besides, attempts were made to cover up this market condition with various artificial measures such as imposition of floor price, upper and lower limits of circuit breakers, it said.
But now, in absence of that artificial effort, the inevitable consequences of continuous irregularities, corruption and manipulation are becoming more evident than before.
The government has formed a “Search and Investigation Committee” to investigate the irregularities, manipulation and corruption of the past in order to stabilise the capital market, protect the interests of investors and restore confidence.
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