No to pay hike irks BB staff

Dhaka, Jan 17 (bdprem.com) -- The finance ministry's rejection of a separate and higher pay scale for Bangladesh Bank officials has set off widespread disappointment among the central bank's staff, officials said Thursday. Your Ad Here The decision comes despite the law ministry's vetting. "Officials in private banks get far higher salaries than we receive in the BB," a senior official told bdnews24.com, asking not to be named. "We will lose capable hands due to the relatively poor payment structure in the BB compared to private banks," he added. Central bank governor Salehuddin Ahmed declined to comment Wednesday. A finance ministry report, prepared for the council of advisers in December, said it was against adoption of a separate pay structure for the BB. The report said such a move could create frustration among other public sector employees. In September last year, the central bank submitted a proposal requesting the introduction of a separate pay structure, similar to that already in place in the central banks of India, Pakistan and Sri Lanka. "Approval of such a separate pay scale for Bangladesh Bank is not justified at the present," the report said. However, the ministry said the proposal would be reviewed by the council of advisors for a final decision. The report said some 23 regulatory authorities, including the Securities and Exchange Commission, Bangladesh Telecommunication Regulatory Commission, the Energy Regulatory Commission and the Micro-Credit Regulatory Authority have also requested separate pay structures for their employees. "Employees of regulatory bodies and other public sector offices will be disheartened if only the BB proposal for a separate pay scale gets the nod," the report said. The ministry report also identified recent natural disasters and ongoing price-hikes that have adversely affected the economy as reasons for opposing the proposal. "A pay commission can give suggestions on the issue of a separate or higher pay structure for BB staff," the report said. The MoF however highlighted that central bank officials are already getting higher salaries than many other public sector employees. The ministry said a BB executive director is now getting a 25.75 percent higher salary than an additional secretary, and this would have widened to 62.18 percent if the proposed pay structure had gone ahead. The finance ministry report also said an additional Tk 40 crore a year would be required to implement the BB's proposal.