Chattogram Bureau :
Chittagong Stock Exchange (CSE) chairman Asif Ibrahim has demanded a short and middle-term plan for the development of the capital market.
He made the demand at a pre-budget press conference on the Chittagong Stock Exchange on Sunday (June 2).
He also made several recommendations from the Stock Exchange.
Asif Ibrahim said the number of investors in the capital market is very low than the population which has been noticed for the past few years.
In order to increase the number of institutional and individual investors in the market, it is important to withdraw double taxes on dividends.
Besides, the institutional investor has to withdraw tax on capital gains and refrain from renewing new taxes.
The CSE chairman also said that various strategies can be taken to facilitate the stock exchange.
Among these, tax exemption can be awarded for 5 years to encourage the enrollment on the conventional alternative trading boards and small cap boards.
In addition, it is important to remove all types of taxes on the hardware and software invested and simply establishes commodity exchanges to simply launch commodity and equity derivatives, a release said.
Asif Ibrahim emphasized on increasing the number of companies listed in the tax GDP ratio, reducing the taxation of the listed company, exemption of capital gains and increasing the number of investors by tax free of dividend income.
Chittagong Stock Exchange MD Saifur Rahman Majumder answered various questions at the press conference under the leadership of CSE Director Major Emdadul Islam.
CSE Director Nakib Uddin Khan and Akhter Parvez Hiru were present.
Responding to various questions from journalists, Chittagong Stock Exchange MD Saifur Rahman Majumder said the corporate finance of the country depends on the bank system. As a result, some missing shows.
If we do not give a sustainable infrastructure to the Capital Market, it will not be possible to reduce our dependence on the bank system.
And to get away from there, a strong market structure is needed. No more shock in future, he assured.