The government now plans to use different banking instruments in efforts to increase liquidity flow into the stockmarket in line with Prime Minister Sheikh Hasina's instructions to stabilise the troubled market.
If applied, banks and financial institutions, which are considered major market players, will get more cash in hand for injecting into the market, sources said.
To discuss the matter, Finance Minister AMA Muhith will sit with the market regulators and policy makers at his secretariat office at 11:00am today.
Secretaries of the finance ministry and Bank and Financial Institutions Division, chairman of the National Board of Revenue, representatives from the Bangladesh Bank, chairman and members of the Securities and Exchange Commission (SEC), and top officials of the Investment Corporation of Bangladesh will attend the meeting.
The SEC yesterday held several meetings with some stakeholders on a market stabilisation package.
Mirza Azizul Islam, finance adviser of a former caretaker government, said the government may think of giving a waiver of interest on margin loans to support the capital market.
“Commercial banks can also invest more in the market as per their solvency,” he added.
Mirza Azizul, also a former chairman of SEC, said the government should discuss more the issue of bringing back the idle money of insurance fund and mutual fund in the market for increasing the market's credit flow.
Earlier on Wednesday, the government announced to take long-term and short-term steps to stabilise the share market and compensate those who lost money to downswings.
The announcement came after Hasina held an emergency meeting at Gono Bhaban with the SEC and other stakeholders over the share market that continued to plunge deeper in the last few days.
Following the meeting, however, the key index of Dhaka Stock Exchange continued to surge for a second day yesterday.
At the close of yesterday's trading, the DGEN jumped up 179 points, or 3.59 percent, to 5,166 points.
After the meeting, SEC member Arif Khan had told reporters that a detailed plan on rescuing the market would come in a day or two.
The four-hour meeting had also decided that no government agency would question the source of undisclosed money to be invested in stocks.
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