Capital market misused as lottery, not for investment

Staff Reporter :

Some individuals treat the capital market like a lottery, focusing on quick gains rather than genuine investment, observed Abdul Awal Mintoo, former FBCCI president and senior BNP leader.

Speaking at a discussion titled “Current Business and Economic Scenarios: The Way Forward,” held at the ERF Auditorium in Paltan on Monday, Mintoo highlighted the tendency of some investors to expect rapid price increases in shares for short-term profits, which, he noted, does not reflect the real market scenario.

Mintoo also criticised the recent practice of freezing or suspending bank accounts without following legal procedures, calling it unlawful and counterproductive.

Addressing broader economic issues, he pointed to the reliance on expensive short-term foreign loans for projects, which has exacerbated inflation and placed a long-term burden on the economy.

He expressed concern over the stagnant employment situation, stating that 22-23 lakh youths enter the workforce annually, but job creation has faltered due to declining investments and reduced private-sector credit flow.

During the interactive session, Mintoo questioned reports about a potential government sale of Beximco Group, emphasising the importance of avoiding actions that could disrupt production and employment.

He argued that legal action should target individual wrongdoings rather than undermining productive sectors. “The Beximco Group employs 82,000 people. Actions that destabilise productive sectors harm the economy,” he said.

On trade relations with India, Mintoo remarked that current tensions stem from India focusing on a single political party in Bangladesh rather than maintaining broader relationships with its people. “The interim government’s stance is clear: India must formally acknowledge the changes since August 5 before moving forward, and I believe this approach is correct,” he added.

Mintoo urged the government to foster a trade- and investment-friendly environment to boost job creation and economic growth.

“Without a free and fearless environment for the private sector, investment and employment opportunities will stagnate,” he warned. He further stressed that only an elected government can ensure accountability and navigate Bangladesh out of its current economic challenges.