DSE director urges government to include stocks in stimulus package

Staff Correspondent | Published: 23:00, Apr 05,2020

 
 

Dhaka Stock Exchange director Rakibur Rahman on Sunday urged the government to include the capital market in its stimulus package of Tk 72,750 crore for affected industries, and to pay 5 per cent of the margin loan interest as a subsidy.

The DSE director made the request after prime minister Sheikh Hasina on the day declared the financial assistance for affected industries to deal with the possible global and domestic economic crisis caused by the ongoing coronavirus pandemic.

Sheikh Hasina on the day declared that the interest rate of this lending facility would be 9 per cent, and the industries concerned would pay half of the interest, while the government would provide the remaining half as subsidy.

Rakibur in a statement requested the prime minister to include the small-scale investors of the country’s capital market in the stimulus package.

The small-scale investors who have taken margin loans from various financial institutions should be given subsidy in interest payment, he said.

Of the 9 per cent interest rate of margin loans, the government should pay 5 per cent and the investors would pay the rest, he suggested.

Rakibur said that the subsidy would stabilise the country’s capital market and benefit the small-scale investors.

He said that the financial support of Tk 72,750 crore for the affected institutions, manufacturing and export-import industries was time befitting and phenomenal.

The package would ensure wages of labours and service providers, he said.

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