Capital market could generate adequate fund for big projects
Saturday, 14 June 2008
CHITTAGONG, June 13 (BSS) - Experts at a seminar here today said the country could arrange adequate funds from ever expanding capital market for implementing big projects without borrowing money accepting unfavourable conditions from the donors.
They opined that Bangladesh does not need to privatise en bloc the public sector organisations for the purposes but could easily benefit immensely by only off-loading certain portion of their shares through the capital market.
The seminar on "Bangladesh capital market-investment tools and techniques" was jointly organised by Chittagong Stock Exchange (CSE) and Chittgaong Centre of Institute of Engineers, Bangladesh (IEB) held at IEB auditorium last night.
Capital market expert and Pro-VC of East-West University, Prof. Abu Ahmed presented the key- note paper while economist Prof. Sikandar Khan was the chief discussant.
With CSE President Nasir Uddin Ahmed Chowdhury in the chair, the seminar was addressed, among others, by IEB local chapter chairman Eng. Ali Ashraf, CSE Chief Executive AB Siddique and deputy manger of corporate development AKM Shahruj Alam.
Prof. Abu Ahmed said the country's growing capital market could be an ideal and alternative source for organising necessary funds for implementing huge development projects rather than depending on foreign donors and aid agencies.
In this context, he said, we have scopes to pump up adequate money from the capital market to execute the project to turn the existing Dhaka-Chittagong highway into 4- lanes and make Bangladesh Biman profitable by purchasing required aircraft for its fleet instead of borrowing money from foreign sources with high interest and tougher conditions.
"We do not need to gross privatisation of public sector organisations to collect required funds, but off-loading major portion of their shares through capital market could be an effective solution and alternative to the foreign funds" Prof. Ahmed pointed out.
Off-loading the shares of public enterprises, he said, would also bring about a positive change in their ownership and pattern of management which will ensure their competitiveness and increase its contributions to the economy.
Prof. Sikandar Khan said giant foreign investors will come forward in a bigger way and feel encouraged in investing their money in the country if we would be able to expand the existing 12 billion US dollar capital market to 30 billion US dollars.
He suggested the Securities and Exchange Commission to take effective measures for further boosting the share market with meaningful discussion with relevant authorities.
They opined that Bangladesh does not need to privatise en bloc the public sector organisations for the purposes but could easily benefit immensely by only off-loading certain portion of their shares through the capital market.
The seminar on "Bangladesh capital market-investment tools and techniques" was jointly organised by Chittagong Stock Exchange (CSE) and Chittgaong Centre of Institute of Engineers, Bangladesh (IEB) held at IEB auditorium last night.
Capital market expert and Pro-VC of East-West University, Prof. Abu Ahmed presented the key- note paper while economist Prof. Sikandar Khan was the chief discussant.
With CSE President Nasir Uddin Ahmed Chowdhury in the chair, the seminar was addressed, among others, by IEB local chapter chairman Eng. Ali Ashraf, CSE Chief Executive AB Siddique and deputy manger of corporate development AKM Shahruj Alam.
Prof. Abu Ahmed said the country's growing capital market could be an ideal and alternative source for organising necessary funds for implementing huge development projects rather than depending on foreign donors and aid agencies.
In this context, he said, we have scopes to pump up adequate money from the capital market to execute the project to turn the existing Dhaka-Chittagong highway into 4- lanes and make Bangladesh Biman profitable by purchasing required aircraft for its fleet instead of borrowing money from foreign sources with high interest and tougher conditions.
"We do not need to gross privatisation of public sector organisations to collect required funds, but off-loading major portion of their shares through capital market could be an effective solution and alternative to the foreign funds" Prof. Ahmed pointed out.
Off-loading the shares of public enterprises, he said, would also bring about a positive change in their ownership and pattern of management which will ensure their competitiveness and increase its contributions to the economy.
Prof. Sikandar Khan said giant foreign investors will come forward in a bigger way and feel encouraged in investing their money in the country if we would be able to expand the existing 12 billion US dollar capital market to 30 billion US dollars.
He suggested the Securities and Exchange Commission to take effective measures for further boosting the share market with meaningful discussion with relevant authorities.