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June 27, 2022
Sport Update

Black money investment opportunities to be considered

State Minister for Planning Shamsul Alam said it was important to give the opportunity to invest black money in the stock market to bring black money into the mainstream of the economy. He said the proposal seeks to bring undisclosed funds into the mainstream of the economy. There is no profit if this money is out of the mainstream of the economy. Doesn’t work; On the contrary, bringing them into the mainstream of the economy is good for the country.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

He said this at a discussion meeting on the proposed budget for the next 2022-23 fiscal year and its impact on the stock market. The meeting was jointly organized by Bangladesh Merchant Bankers Association (BMBA) and Capital Market Journalists Forum (CMJF). The meeting was held at the CMJF Auditorium in Purana Paltan in the capital. The main proposal was presented by BMBA President. Chhayedur Rahman.

Speaking as the chief guest on the occasion, Shamsul Alam said the government is very sincere in developing the capital market. I also want this market to be better, big companies to come to the capital market. Increase people’s participation in these companies.

In the main article on the occasion, the BMBA president recommended giving a chance to whiten the black money in the stock market by paying 5 percent tax. Given this opportunity, on the one hand, black money will come into the mainstream of the economy. On the other hand, it will help to make the capital market dynamic. He also recommended that the tax rate gap between listed and unlisted companies be reduced to at least 10 percent. The big and profitable companies will be interested to be listed in the stock market. In addition, it is recommended that the source tax deducted by the companies during the distribution of dividends be considered as final tax liability.

CMJF President Ziaur Rahman presided over the function.

Market conditions
After the announcement of the budget, the stock market started falling sharply, then the market turned around a bit yesterday. Along with the index, transactions have also increased on this day. The main index of Dhaka Stock Exchange (DSE), the country’s main stock market, rose 13 points to 6,365 points yesterday. Earlier, the index had lost 119 points in three working days from last Sunday to Tuesday. 13 points were recovered from there yesterday. Besides, at the end of the day, the transaction has increased to Tk 944 crore, which is Tk 79 crore more than the previous day.

Of the 362 companies traded on the Dhaka market yesterday, 165 rose, 161 declined and 48 remained unchanged. Companies from various sectors were at the top in sector based transactions. Of the 15 companies traded in the sector, only 10 rose. The price of 4 decreased and 1 remained unchanged. Two of the top 5 companies traded on the DSE were companies in various sectors. The two companies are JMI Hospital and Beximco Limited.

Meanwhile, RAK Ceramics rose to the second position among the top 10 companies in the stock market yesterday after announcing an investment of thousands of crores of rupees to set up a new tiles factory. The company’s share price rose 4 rupees 70 paise or 10 percent to 51 rupees 60 paise. The company on Tuesday announced an investment of Rs 1,000 crore to build a new tiles factory in Gazipur.

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