PMO steps in to make capital market vibrant
The short-term measures will be taken immediately and the government offices concerned have already been instructed to work on them
The Prime Minister's Office (PMO) on Thursday had a policy meeting to discuss with officials concerned the various long and short-term measures to make the capital market vibrant.
The short-term measures will be taken immediately and the government offices concerned have already been instructed to work on those, informed the securities regulator.
The Bangladesh Securities and Exchange Commission (BSEC) said in a press release that the PMO instructed the authorities concerned to take measures for an increased participation of banks and non-bank financial institutions in the capital market.
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It also directed arranging soft loans for institutional investors, including investment banks, so that they can invest more in the market is another point.
The list of measures also includes financial capability enhancement of the Investment Corporation of Bangladesh to enable the state-owned investment corporation to operate with more strength.
The PMO also called for taking confidence-building measures to attract foreign investment, the release added.
The to-do list includes listing initiative of profitable state-owned enterprises and multinational businesses operating in Bangladesh for increasing the number of good stocks in the market.
Government high-ups should take proper steps in this regard, the BSEC said in its press release.
However, a top PMO official who was present at the meeting told reporters that the meeting merely discussed the potential steps for improving capital market situation.
"The meeting did not issue any instruction for any authority or agency, as the press release claimed," he added.
