Proposal of a new salary structure for the chairman and commissioners of the Bangladesh Securities and Exchange Commission (BSEC) hangs in balance due to lack of required approval from the ministry of finance (MoF), officials said.
The Bank and Financial Institutions Division (BFID) of the MoF urged to the finance minister through the senior secretary of the finance division for approving the proposed salary structure several times. But they did not get any response until now, the officials said.
"The proposed salary structure may get approval from the minister before the new pay scale for government employees comes into effect," a senior official told the FE on Saturday seeking anonymity.
The BFID proposed the new salary structure for the chairman and commissioners of the BSEC a couple of months back, sources said.
The proposed salary (total) for the chairman has been increased by 233.33 per cent and that for the commissioners by about 151 per cent from the existing total salary, they said.
Total salary of the chairman of the BSEC has been proposed at Tk 310,000 per month while that of the commissioners at Tk 207,000.
At present, the chairman and commissioners of the regulator get a total of Tk 93,000 and Tk 82,500 per month respectively.
A high official of the MoF said the government has taken the decision to increase salaries of chairman and commissioners of the BSEC considering importance of their duties.
"It is not possible now to take next necessary steps for contract signing of the chairman and commissioners without approval of the new salary structure from the minister. As a result, contract signing for the new term with the top boss and four members has been delayed," he said.
According to the new salary structure, the chairman will get Tk 150,000 as basic pay, Tk 150,000 as house rent, medical and other allowances and Tk 10,000 as entertainment allowance.
On the other hand, the commissioners would draw Tk 100,000 as basic pay, Tk 100,000 as house rent, medical and other allowances and Tk 7,000 as entertainment allowance.
Earlier, according to the section 5 (2) of Bangladesh Securities and Exchange Commission Act 1993, the government decided to extend the appointment of the present chairman and four members of BSEC by one more term as the present management of the stock regulator have been performing well since they took charges in mid-2011.
The three-year term of the officials ended between May and July last year. The new term will be of four years from the next appointment.
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