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Good politics bears good economic impact: Muhith

He says it's time for him to retire


FE Report | November 14, 2018 00:00:00


Finance minister AMA Muhith said on Tuesday a good political situation has always an excellent impact on the country's economy and overall development.

"All parties are joining in the elections. It's a political success. The impact of political success spread to all sectors, including economy and development," he added.

Mr Muhith told the media at the secretariat after a cheque handover ceremony of Bangladesh Securities and Exchange Commission (BSEC).

BSEC chairman Dr M Khairul Hossain handed a cheque for Tk 575 million to him as government's portion earned from beneficiary owner (BO) maintenance fee in fiscal year 2017-18.

Mr Muhith recalled two 'serious' debacles in the capital market in history-the latest one in 2011.

After the catastrophe, the BSEC spent almost eight years in reforming the market.

"They (BSEC) have put enormous efforts in drafting laws and regulations and brought the capital market to a stable position," the minister mentioned.

He said, "From now on we don't want to bother about the capital market. This will move on its own."

Mr Muhith said the government is not doing anything there, leaving it under the BSEC's watchful eyes.

Now when any aberrations happen, tough punishment is also given to the people responsible, he uttered.

Replying to a query, Mr Muhith said a strong base of the capital market has been established during the past eight years.

"Now the investment needs of the country are very great. So, we expect that investment will flow in."

In reply to another query, the minister said it is time for him to call it a day at the age of 85.

He is not running in the upcoming general election, despite the submission of his nomination paper to his party as a dummy candidate.

Mr Muhith, however, said nobody wants to retire from politics in this country.

He said the country's politicians need to think about their retirement.

"Many of my seniors, including Jatiya Party chairman HM Ershad and Bikalpa Dhara president Dr AQM Badruddoza Chowdhury, are still in politics."

When asked to evaluate his job in the last two consecutive governments, Mr Muhith said the government's performance during the period is 'outstanding'.

"I am, of course, a party to it," he maintained.

Mr Muhith acknowledged the existence of some problems in the banking sector. "I'll leave a roadmap for my successor for the banking sector."

The BSEC chairman said the capital market is now in a stable position. There is no negative indication centring the national polls.

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