"Still I'm in two minds," he told a delegation from Dhaka Stock Exchange (DSE) at his office. The minister expressed this view when the delegates advocated for black money to be allowed in terms of investment in the capital market and industries.

Saifur kept mum about their call, but explained the pluses and minuses of allowing the money whitening provision the way he did in Friday's post-budget press conference.

The delegation led by DSE President Shahiq Khan apprehended the undeclared money might go to some unproductive sectors to remain idle and encourage smuggling.

Praising the budget proposal particularly for its focus on measures relating to development of the capital market, the DSE delegation proposed some modifications, but got poor response from the minister.

"I'll consider (a tax waiver for the stock brokers) it after two to three years when economy becomes stronger and revenue increases," said the finance minister.

He however assured the delegation of a provision, under which the finance ministry will not allow foreign direct investment unless investors offload a chunk of shares in the local capital market.

The delegation asked the minister to make an arrangement so that foreign investors offer a number of shares in the local market.

On the off-loading of the government-held shares of companies, Saifur said he had taken initiatives, but the ministries gave cold shoulder so far.

DSE Vice-president Ahmed Rashid Lali, Chief Executive Officer Salahuddin Ahmed Khan and Finance Secretary Zakir Ahmed Khan were present.