Business Report :
Lack of enlisting strong financial based companies, especially multinational corporations have made stock market lagging behind from realising its potentials.
Sources said many good multinational companies are functioning in the country but they are yet to be listed on the stock markets.
This has led to a shortage of good companies on the stock market. Therefore, the investment path must be made attractive to attract domestic and foreign companies to the stock market said president of the Bangladesh Association of Publicly Listed Companies (BAPLC) Rupali Haque Chowdhury.
Rupali Haque Chowdhury also the managing director of the Berger Paints Bangladesh Limited made this remarked while addressing a press conference organized by the Capital Market Journalists Forum (CMJF) held at Paltan in the city on Sunday.
According to the Companies Act, several conditions have been made easier for unlisted companies compared to listed ones. Our corporate tax gap was also 15 percent.
For this reason, it is necessary to review the listed and unlisted companies laws. If companies are not given the facility of being listed, then why will they come to IPO? They will be interested in going to banks to get easy loans.
She said that port charges and other duties should not be increased, because as a result, business and trade will not be able to bear the pressure of inflation. BAPLC is strongly protesting this. If companies do not get benefits if listed, then why will they come to IPO? Rather, they will raise capital from banks.
Rupali Haque Chowdhury also said that our GDP investment rate is decreasing. Due to Covid, the SME sector has been affected, although big companies are doing well. The banking sector should be more interested in SMEs.
She emphasized the development of financial policies and infrastructure to attract investment. Our lead time is much longer than other countries and we need to improve the condition of our roads.
She also talked about the imposition of supplementary duty and VAT. She said that these issues are negatively affecting the bottom line of businesses. It would not be right to label products like paints as luxury, especially because they are essential for security.
