The government will expedite the procedure of offloading state-owned enterprises (SoEs) and raise funds from the stock market to implement infrastructure development projects.
Prime Minister Sheikh Hasina gave the assurance when a 31-member team, led by Rakibur Rahman, president of the Dhaka Stock Exchange (DSE), met her Thursday.
The Prime Minister has informed the DSE team that the government planned to launch the country's own satellite.
The DSE placed a set of proposals, which include introduction of buyback system, allowing investment of undisclosed money in stock market, expeditious share offloading of SoEs, setting up a Financial Reporting Council, cancellation of double taxation policy and strengthening of the Securities and Exchange Commission (SEC).
"The Prime Minister is positive about implementation of the proposals and she has assured us of her all-out cooperation to make the market vibrant," Rakibur told reporters after the meeting.
"The government will expedite share offloading of a number of SoEs," he said adding that the DSE could raise fund to finance the launching of the satellite.
The bourse proposed introduction of share buyback system in order to 'save' the investors in a falling market.
Rakibur said: "Several companies both in India and Pakistan have repurchased their shares to stop slump in their share prices because of the global financial meltdown. But unfortunately, we are yet to introduce the system."
The bourse recommended the government to make all-out effort to mobilise investment fund from the stock markets, which should be used for implementing much-needed big national projects like power plants, Jamuna Bridge and Padma Bridge.
Forging public-private partnership will be the best mechanism to pool finances instead of "begging money" from external sources.
The DSE placed a set of budgetary proposals, including tax-free investment of undisclosed money in the stock market, withdrawal of double taxation policy and increase tax-free investment ceiling from the existing Tk 0.5 million to Tk 1.0 million.
The bourse proposed to bring down the income tax rates for the listed banks, insurance and non-banking financial institutions (NBFIs) to 35 per cent from the existing 45 per cent, saying that this step will increase the capacity of the listed financial institutions to disburse higher cash dividends.
Finance Minister AMA Muhith, PMO Secretary Mollah Waheeduzzaman, Press Secretary to the PM Abul Kalam Azad and chairman of Bangladesh Enterprise Institute (BEI) Salman F Rahman were present.
The Financial Express
Prime Minister Sheikh Hasina gave the assurance when a 31-member team, led by Rakibur Rahman, president of the Dhaka Stock Exchange (DSE), met her Thursday.
The Prime Minister has informed the DSE team that the government planned to launch the country's own satellite.
The DSE placed a set of proposals, which include introduction of buyback system, allowing investment of undisclosed money in stock market, expeditious share offloading of SoEs, setting up a Financial Reporting Council, cancellation of double taxation policy and strengthening of the Securities and Exchange Commission (SEC).
"The Prime Minister is positive about implementation of the proposals and she has assured us of her all-out cooperation to make the market vibrant," Rakibur told reporters after the meeting.
"The government will expedite share offloading of a number of SoEs," he said adding that the DSE could raise fund to finance the launching of the satellite.
The bourse proposed introduction of share buyback system in order to 'save' the investors in a falling market.
Rakibur said: "Several companies both in India and Pakistan have repurchased their shares to stop slump in their share prices because of the global financial meltdown. But unfortunately, we are yet to introduce the system."
The bourse recommended the government to make all-out effort to mobilise investment fund from the stock markets, which should be used for implementing much-needed big national projects like power plants, Jamuna Bridge and Padma Bridge.
Forging public-private partnership will be the best mechanism to pool finances instead of "begging money" from external sources.
The DSE placed a set of budgetary proposals, including tax-free investment of undisclosed money in the stock market, withdrawal of double taxation policy and increase tax-free investment ceiling from the existing Tk 0.5 million to Tk 1.0 million.
The bourse proposed to bring down the income tax rates for the listed banks, insurance and non-banking financial institutions (NBFIs) to 35 per cent from the existing 45 per cent, saying that this step will increase the capacity of the listed financial institutions to disburse higher cash dividends.
Finance Minister AMA Muhith, PMO Secretary Mollah Waheeduzzaman, Press Secretary to the PM Abul Kalam Azad and chairman of Bangladesh Enterprise Institute (BEI) Salman F Rahman were present.
The Financial Express
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