Express (August 09, 2011)
Finance Minister AMA Muhith Monday said certain quarters are responsible for the persistent fall of share prices causing instability in the market.
"There is no valid reason behind the current instability of the share market. Some bad people are playing with the market," Muhith told reporters after a meeting of the cabinet committee on public procurement.
"We are trying to come out of an unstable situation. A number of existing laws will be updated to stabilise the market," he added.
Small investors last Sunday demonstrated against the fall in stock prices and reiterated their demand for resignation of the finance minister and the Bangladesh Bank governor.
Muhith had said there were no investors in the demonstration; the people who took part in the demonstration were nothing but a group of fatkabaj' (speculator traders).
He claimed the real investors never took part in demonstration.
Meanwhile a meeting of the cabinet committee on purchase Monday approved buying of 50,000 tonnes of wheat to increase food stock in the country.
According to food ministry statistics, the total government stock of food grains was 1.18 million (11.84 lakh) tonnes, of which rice was 0.88 million tonnes and wheat 0.29 million tones, until the first week of this month.
Food ministry will initiate a massive food distribution programme soon so that the poor people are not affected by the price spiral.
The current budget for the 2011-2012 fiscal has allocated Tk 20.76 billion for procurement of rice and wheat.
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