JS bodies demand punishment to share market manipulators
Monday, 11 April 2011
FE Report
Members of four parliamentary standing committees Sunday said the government must ensure punishment to the persons responsible for the recent share market scam. The members of finance, planning, public accounts and government affairs committees were addressing a pre-budget meeting held at the NEC auditorium in the city. Finance Minister AMA Muhith was in the chair. The parliament members also said the provision of whitening black money must be stopped in the next budget. The chairman of standing committee on planning ministry, Oli Ahmed, said: Some dacoits have looted the hard-earned money of the poor. The government must punish them." Mr Oli also said the central bank should also take stringent measures against the market manipulators including institutions. Mr Oli, lone member of LDP said: "A large amount of money had already been siphoned off the country. For this the dollar crisis emerged few weeks back." Mr Oli said local entrepreneurs should be encouraged to invest in the telecommunication sector. The chairman of public accounts committee, Mohiuddin Khan Alamgir, said district budget provision is contradictory with the country's constitution, adding: "The practice should be stopped." Mr Mohiuddin said monetary policy should be formulated in such a way that it can tame the inflationary pressures in the country. He said new industries are still facing hurdles to operate their plants due to lack of power and gas supply. He said 20,000 non-government primary schools should be nationalised to reduce discriminatory practices between the public and the private schools and improve the primary education. He urged the government to set up fiscal commission to ensure transparency and accountability in the taxation system. Another parliament member Golam Mustafa, said book building method of listing companies should be amended so that none can cash in on the system. He said there should be a better relationship between capital and money market regulators to avoid scam in the capital market. Mr Mustafa said the face value of all listing companies should be same at Tk 10. Enamul Hoque, another member of parliament, said budget should be pro-village as Dhaka has already been non-livable. A ruling party member of parliament (MP) Golam Dastagir Gazi said the next budget should have safeguard measures for local industries. He alleged that many are manipulating CRF (clean report of finding) and flooding the local market with imported goods threatening the local industry. He said there is a need for a high-powered monitoring committee to check the under-invoicing practices.
Members of four parliamentary standing committees Sunday said the government must ensure punishment to the persons responsible for the recent share market scam. The members of finance, planning, public accounts and government affairs committees were addressing a pre-budget meeting held at the NEC auditorium in the city. Finance Minister AMA Muhith was in the chair. The parliament members also said the provision of whitening black money must be stopped in the next budget. The chairman of standing committee on planning ministry, Oli Ahmed, said: Some dacoits have looted the hard-earned money of the poor. The government must punish them." Mr Oli also said the central bank should also take stringent measures against the market manipulators including institutions. Mr Oli, lone member of LDP said: "A large amount of money had already been siphoned off the country. For this the dollar crisis emerged few weeks back." Mr Oli said local entrepreneurs should be encouraged to invest in the telecommunication sector. The chairman of public accounts committee, Mohiuddin Khan Alamgir, said district budget provision is contradictory with the country's constitution, adding: "The practice should be stopped." Mr Mohiuddin said monetary policy should be formulated in such a way that it can tame the inflationary pressures in the country. He said new industries are still facing hurdles to operate their plants due to lack of power and gas supply. He said 20,000 non-government primary schools should be nationalised to reduce discriminatory practices between the public and the private schools and improve the primary education. He urged the government to set up fiscal commission to ensure transparency and accountability in the taxation system. Another parliament member Golam Mustafa, said book building method of listing companies should be amended so that none can cash in on the system. He said there should be a better relationship between capital and money market regulators to avoid scam in the capital market. Mr Mustafa said the face value of all listing companies should be same at Tk 10. Enamul Hoque, another member of parliament, said budget should be pro-village as Dhaka has already been non-livable. A ruling party member of parliament (MP) Golam Dastagir Gazi said the next budget should have safeguard measures for local industries. He alleged that many are manipulating CRF (clean report of finding) and flooding the local market with imported goods threatening the local industry. He said there is a need for a high-powered monitoring committee to check the under-invoicing practices.