Prime Minister Begum Khaleda Zia yesterday stressed increased investment in productive sectors for quick poverty alleviation, reports UNB.

"Momentum in' economic progress cannot be attained without increasing investment in the productive sector. “ she said at a function organised by the Dhaka Stock Exchange (DSE) in the Osmany Memorial Auditorium to honour top 10 companies of the country for the performance in stock market.

Apex Tannery Limited. Aziz Pipes Limited. Bexlmco Limited. Bangladesh General Insurance Co Ltd. Beximco Pharmaceuticals Ltd. The City Bank Limited. GQ Ball Pen Industries Ltd. Monno Ceramic Industries Ltd. Singer Bangladesh Limited and Usmania Glass Sheet Factory Ltd received the 1992-93 national award for their role in share market.

Finance Minister 'M Salfur Rahman. DSE Chairman Kh-urshid Alam and honorary

Secretary General Mohammad Abdul Haq Hawlader also spoke ' at the function attended by ministers. MPs, senior officials and leading businessmen of the country.

Stressing the enormous need for financial investment in Bangladesh, the Prime Minister said, "Investment is a pre-requisite for economic development of the country."

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Terming industrialisation as the key for economic development. Begum Zia said an organised and active investment market can play an important role in this regard.

The Prime Minister re-* ferred to the restructuring of I the taxation system, incentives measures for local and foreign I investment, reducing the lend-1 Ing rate and formation of Securities and Exchange Commission which deregulated • the capital market.

"These economic reforms, no doubt, expanded the activi-

ties of free market economy.' ShPointing at world-wide success of the free-market economy achieved through investment. she said the present government has also introduced free economy for integrating the country with the world economic activities.

Begum Zia said Bangladesh, as a poor country, needs small savings at personal level and the DSE can play a catalytic role to attract investment from small savers.

The Prime Minister said the recent activities of the Dhaka Stock Exchange accelerated the investment activities. Daily bulletin of the DSE in different media will bring transparency in the share market, she hoped.

Citing examples of investment through stock exchange in other countries, she called for intensifying the activities of the DSE and assured allout assistance of her government In this regard.

DSE Chairman Khurshid Alam said the stock market -had been growing fast during the last two years with the participation of overseas -funs, which is a result of liberalisation 'efforts of the government.

If the present investment climate is maintained. I am positive that during the.cur-rent year, there will be fresh investment in securities to the extent of Tk 1000 crore, both foreign and domestic," he said.

The DSE Chairman called for disinvesting shares held by the government, intensifying the privatisation process and restructuring the tax systems in line with the regional coun-‘ tries ip the Pacific Rim in order to attract both issuers and investors.

Later, the Prime Minister distributed the awards among the owners of the top ten companies.