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Take action against stockmarket culprits

Treasury bench MPs ask govt; Muhith says further probe into 14 cases underway

Staff Correspondent
A number of ruling alliance lawmakers yesterday in the parliament decried the delay in taking actions against" gamblers" who were identified by a probe body as key players involved in the recent share market crash.
They also criticised filing of a case against Khondkar Ibrahim Khaled who led the probe body that investigated the share market scams. Other treasury bench
lawmakers supported the speeches by thumping on their desks.
In response, Finance Minister MA Muhith clarified the government's position on the issue. He also described the government's ongoing efforts to reform the stock market including recasting of the Securities and Exchange Commission.
The finance minister said 14 incidents of scam are being investigated further, and he thinks almost all of those will turn into criminal cases.
"We may know the persons who were involved in the share market scams. But we need evidence to try them. Therefore, we started further investigation of 14 cases,” Muhith said.
Citing the cases filed against persons involved in the share market scam in 1996, he said the government wanted to revive those cases, but there were only allegations, no witness or evidence.
"We don't want to face the same situation this time,” the finance minister said.
He also said the government did not take any decision to introduce tax identification numbers (TIN) for share market investors, neither did the government take any decision to impose taxon share market transactions.
"But a vested quarter is propagating that the government is going to introduce TIN for share market investors and impose tax on share trade. This quarter benefits from spreading such rumours, and they made the market unstable in the last two days," Muhith said.
He said the government is providing legal assistance to Ibrahim Khaled. "We are very much sorry that he is being harassed."
Earlier, taking the floor on a point of order, ruling Awami League lawmaker Sheikh Fazlul Karim Selim raised the issue of the share market.
AL lawmaker Suranjit Sengupta, Jatiya Party MP Mujib-ul Haq, and independent lawmaker Fazlul Azim also participated in the unscheduled brief discussion on the stock market crash.
Sheikh Selim, also ruling AL presidium member, blasted the finance minister for not taking actions against the "gamblers".
"Everybody knows the persons and companies behind the stock market scams. But actions are not being taken against those who took away hundreds of crores of taka," Selim said.
Amid support of treasury bench lawmakers, Sheikh Selim, also chief of a parliamentary body, said the "gamblers" involved in the stock market scams are speaking loudly on TV talk shows.
He urged the finance minister to take stern actions against the persons behind the scams, even if those persons are involved in the ruling party.
"The government's image can't be tarnished for only one or two people. The government should not shoulder their liabilities, even if they are party men," Selim said.
He also criticised filing of the case against Khondkar Ibrahim Khaled.
He criticised the home ministry's move to install close circuit cameras at share market areas to keep vigilance on investors.
"They will protest since they got hurt by losing money," Selim said. He said the finance minister, the chairman of the parliamentary standing committee on finance ministry, and the central bank governor are saying different things on the same issue, there is no consistency in their speeches.
Taking the floor, AL lawmaker Suranjit Sengupta expressed astonishment about how a defamatory case could be filed against Ibrahim Khaled for the probe report.
"All parliamentarians and the people of the country believe that Ibrahim Khaled is an honest man. But that man is not being protected. They are threatening him," Suranjitsaid.
Jatiya Party lawmaker Mujib-ul Haq urged the government to send the matter to the AntiCorruption Commission for taking actions.
Independent lawmaker Fazlul Azim also decried filing of the case against Ibrahim Khaled, and said Khaled is one of the most honest men in the country's banking sector. "No honest man in future will be found to form any committee if Ibarhim Khaled is harassed this way, "he said.