Finance Minister Abul Maal Abdul Muhith calling the capital market 'naughty' has sparked an intense backlash from the main bourse and small investors in Dhaka.
The Dhaka Stock Exchange (DSE) led raucous protests after Muhith, speaking on the supplementary budget in Parliament on Monday, had said ,"It is a naughty share market and I don't want to make any comment on it."
The Minister's cynical remarks came three days after he proposed the budget for 2012-13 fiscal, apparently expressing his frustration over failure to evoke a positive response from the market despite announcing a raft of measures.
Reacting to the remark, DSE President Rokibur Rahman said, "It seems to me that the honourable Finance Minister has grown impatient. He has announced incentives, but it needs to be watched whether those are being implemented."
Regarding use of the word 'naughty' to define the market, Rahman said, "This is the first time I have heard something like this."
During his speech, Minister Muhith had also observed that it would not impact on the economy if he did not think much about the market.