Dhaka Stock Exchange (DSE) on Sunday urged the government to release its shares of renowned local and multinational companies like Unilever and Standard Chartered Bank in the capital market to keep it stable.

The premier bourse of the country also reiterated its demand of allowing the undisclosed money, a major part of the economy, to be invested in the capital market without any question and without imposing tax.

DSE president Mohammad Rakibur Rahman came up with the demands at a press briefing at the DSE boardroom this (Sunday) noon. DSE vice president Sohel Rizvi and chief executive officer (CEO) AFM Saiful Islam were present in the briefing.

The DSE president informed that they would submit their proposals to the Securities and Exchange Commission (SEC) within next couple of days.

He said if the huge undisclosed money could be brought into the capital market without imposing tax, it would make country's capital market stronger and vibrant and would also remove liquidity crisis in the long term.

Rakibur Rahman also demanded of the government to raise a special rescue fund for facing the global financial downswing. Earlier, on April 9, a 31-member DSE team met with Prime Minister Sheikh Hasina on the same issue and placed a set of proposals before her.

"We've proposed to reduce tax for financial institutions to 35 percent from 45 percent so that they can increase the rate of dividends for the investors in the capital market," the DSE president said. He suggested the government to give up the tendency of bank-based economy and make all-out effort to mobilise investment for the stock markets, which should be channeled for implementing much-needed big national projects like power plants, Padma Bridge and projects related to telecom sector.

Forging public-private partnership would be the best mechanism to pool finances rather than "begging money" from external sources, Rakibur Rahman said.

Source: UNB, Dhaka