Investors call for Muhith's head
Investors call for Muhith's head | Business | bdnews24.com
Sun, Jun 17th, 2012 5:08 pm BdST
Dhaka, Jun 17 (bdnewsw24.com)—Small investors staged frenzied demonstration in front of Dhaka Stock Exchange (DSE) on Sunday and demanded resignation of Finance Minister as shares on the prime bourse continued to slide.
The retail investors under the umbrella of Capital Market investors Unity Council took to the street around 1pm.
"The Finance Minister had made unexpected remarks about the capital market in the past days. It had led the market to fall. The market started falling once again after he made such comments twice recently," said its International Relation Affairs Secretary Ataullah Nayeem.
Minister AMA Muhith dubbed the market 'naughty' in Parliament on Jun 11, drawing flak from the DSE top-brass.
"The entire market is naughty, many have lost everything in this market and still they are not leaving it. Everyone is naughty, not just some people," Muhith had told reporters.
"I am frustrated, and making these statements out of that frustration," he justified his speech on supplementary budget.
"Many people said when I speak it has negative impact on the share market. If I do not even think about the share market, it won't have any harmful impact on the economy," Muhith added.
Referring to the statement, Nayeem said, "The Finance Minister of a country cannot deliver such a speech. It is damaging for the market."
DSE lost 148 points last week. Index on the country's prime bourse continued to fall when trade opened on Sunday.
At the close, the index reached 4,506 points, 114 points lower. Shares worth around Tk 1.69 billion were exchanged, which is 18 percent lower than Thursday, the last working day.
On Sunday, prices of 22 increased while 228 fell down.