BB again demands separate pay scale for its officials
Friday, 31 October 2008
Shakhawat Hossain
Bangladesh Bank has again demanded separate salary structure to churn up its mid level officials who are quitting or switching to other jobs for higher salary, official sources said.
"The central bank has pursued the advisory council through the finance ministry for separate salary structure," said a senior official of the finance ministry.
The finance ministry has already sent the matter to advisory council that is expected to review the proposal soon.
The BB proposal of separate salary structure includes pay hike for the top and mid-level officials ranging from 30 per cent to 45 per cent, added the official.
This is the third attempt by the BB in less than a couple of years to get approval from the highest state authority for a separate salary structure.
The last move that was initiated in September 2007 was reviewed by the present caretaker administration more than six months ago.
The BB was asked for further review of the proposal.
A BB official said a separate salary structure is imperative as the central bank could not keep the talented mid level officials due to low pay structure.
"Nearly 15 mid level officials have already quit their jobs in last couple of years and many others have been in lien," he said.
The central bank is often facing problem to run its day-to-day work due to lack of efficient officials against the backdrop of growing economic activities, he said.
On the last occasion, the finance ministry opposed the separate salary structure saying that it would create frustration among other public sector officers and employees.
The demanded pay hike by more than 20 regulatory authorities has also remained pending.
The finance ministry also said the central bank officials are now getting 25.75 per cent higher salary than the ministry officials. The gap will be further widened to more than 50 per cent if the BB proposal is approved.
The ministry, however, suggested that the proposals by the BB and other regulatory authorities could be incorporated into the terms of reference (ToR) for the Pay Commission.
Bangladesh Bank has again demanded separate salary structure to churn up its mid level officials who are quitting or switching to other jobs for higher salary, official sources said.
"The central bank has pursued the advisory council through the finance ministry for separate salary structure," said a senior official of the finance ministry.
The finance ministry has already sent the matter to advisory council that is expected to review the proposal soon.
The BB proposal of separate salary structure includes pay hike for the top and mid-level officials ranging from 30 per cent to 45 per cent, added the official.
This is the third attempt by the BB in less than a couple of years to get approval from the highest state authority for a separate salary structure.
The last move that was initiated in September 2007 was reviewed by the present caretaker administration more than six months ago.
The BB was asked for further review of the proposal.
A BB official said a separate salary structure is imperative as the central bank could not keep the talented mid level officials due to low pay structure.
"Nearly 15 mid level officials have already quit their jobs in last couple of years and many others have been in lien," he said.
The central bank is often facing problem to run its day-to-day work due to lack of efficient officials against the backdrop of growing economic activities, he said.
On the last occasion, the finance ministry opposed the separate salary structure saying that it would create frustration among other public sector officers and employees.
The demanded pay hike by more than 20 regulatory authorities has also remained pending.
The finance ministry also said the central bank officials are now getting 25.75 per cent higher salary than the ministry officials. The gap will be further widened to more than 50 per cent if the BB proposal is approved.
The ministry, however, suggested that the proposals by the BB and other regulatory authorities could be incorporated into the terms of reference (ToR) for the Pay Commission.