Probe report to be published soon: Muhith

FE Team | Published: April 19, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
Finance Minister AMA Muhith Monday said the government would publish the probe committee report on share market scam shortly with some preventive measures targeting the capital market. Mr. Muhith was briefing reporters on the views of different chairmen of parliamentary standing committees (JS bodies) on the next budget. "Many small investors have undergone financial losses and we are keeping some measures in the report on taking actions," Mr. Muhith added. The finance minister also said it would include some reforms relating to Securities & Exchange Commission (SEC), Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the much-talked-about book building method. The minister added the chairmen of the standing committees urged him to overcome the liquidity crisis prevailing in the country's money market. "But I've contested it. I think there should be a scrutiny on the issue," Mr. Muhith said. Chairmen of parliamentary standing committees on industries ministry, jute and textile ministry, shipping ministry, law, justice and parliamentary affairs ministry and culture ministry were present at the pre-budge meeting held at the NEC conference room in the city. Mr. Muhith said the government has planned to set up at least seven economic zones in the divisional headquarters. "We'll at least identify seven economic zones in the next year," he added. The finance minister said the government would transform BJMC (Bangladesh Jute Mills Corporation) into a holding company with private mandate. He also said many parliamentary standing committee chairmen talked about making jute pulps in the country for their bright export prospects. He said the chairman of the parliamentary standing committee on shipping ministry has asked for keeping budgetary allocation to purchase oil tankers, launches and small vessels. The finance minister said many discussed the potential of tourism. Chairmen of the standing committees said the public-private partnership has failed to operate due to lack of strategic planning on the entertainment industry. The minister said many pointed out the deplorable condition of the state-owned aircraft. Suranjit Sengupta MP, Tofael Ahmed MP, Engineer Mosharrof Hossain MP, Akhteruzzaman MP were present, among others, at the pre-budget meeting. UNB adds: Finance Minister AMA Muhith today (Monday) dropped an indication that the national budget for the coming fiscal (2011-12) might be between Tk 1580 billion and 1600 billion. He said about Tk 300 billion will be added to the current fiscal year`s national budget. The current fiscal year's revised budget might be Tk 1280 billion-1290 billion. There will be a cut in the annual development budget (ADP) by Tk 35 billion. He said most of the lawmakers expressed grave concerns over the share market scam and also about the failure of the government`s rental power plants project. "They viewed that the quick rental power plant project has failed. But I still believe that about 2000MW power will be added to national grid within 2011," he said.