'Certain quarter' behind latest crash: Muhith

Dhaka, Aug 8 (bdnews24.com) — Finance minister A M A Muhith sees no valid reason for recent slumps in the capital market and says a certain quarter is responsible for the latest crash.

"There is no reason behind the instability of the share market. Some people are playing with the market," Muhith told reporters after a meeting of the cabinet committee on public procurement on Monday.

"The instability of the market is not acceptable. We're trying to improve the existing laws to stabilise the market," he added.

Following a continuous rise for 17 successive trading days after June 28, the DSE general index stood at 6,710.53 points. However, during the next 10 days the index began to slip, except on Wednesday when the premier bourse gained 196 points.

Small investors have demonstrated against the fall and demanded the resignation of the finance minister and the Bangladesh Bank governor.

Muhith on Sunday said there were no investors in the demonstration, they were simply 'fatkabaj'. "Real investors never demonstrate," he said.

Securities and Exchange Commission member Helal Uddin Nizami on July 31 said paperwork to file cases against those named as key players behind the stocks scam was complete.

Investors say a vested quarter was trying to destabilise the market.

SEC chairman M Khairul Islam on Sunday said, "We hope that the SEC would ensure that none is harassed only on suspicion."

The SEC was overhauled earlier this year following proposals submitted by a committee formed to investigate the December-January stocks debacle.

The panel in its report named several people as key players behind the scam.

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