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Banks pay scale faces new hurdle

  • Published at 09:50 pm November 23rd, 2013

Although the prime minister has approved a new pay scale for Bangladesh Bank and four state-owned commercial banks three weeks before, implementation of it faces a fresh hurdle.

The government now finds no law under which a separate pay scale for the four state-owned banks could be materialised, said official sources.

In Bangladesh, the pay scales of any government offices are executed under the Services (Reorganisation and Conditions) Act, 1975.

But the state-owned commercial banks were made public limited companies in 2007 and remain outside the purview of the Services Act.

Finance Secretary was given the responsibility of ownership of those banks that include Sonali Bank, Janata Bank, Agrani Bank and Rupali Bank.

Rupali Bank has a 9% private ownership.

“There is no law for the pay-scale of the state-owned commercial banks. Finance Secretary has already been informed about it,” said a senior official at pay-scale implementation division at the finance ministry on Saturday.

Early this month, a government committee led by cabinet secretary Musharraf Hossain Bhuiyan had submitted a proposal on a separate pay scale for the banks.

The new pay scale was then approved by the prime minister with increase in the employees’ basic salaries.

Under the new 11-grade pay scale, which will replace the existing 20-grade pay structure, the basic salary for those in the lowest grade will be Tk6,000 and Tk55,000 for the highest grade.

After a meeting with cabinet division on 14th this month, finance minister AMA Muhith told the journalists that the government would issue an order on the new pay scale just the following week.

Meanwhile, Bangladesh Bank governor Dr Atiur Rahman described the PM’s approval to new pay scale as an achievement for the central bank and the state-run commercial banks.

The scale separated the banks’ pay scale from the national pay scale.

“After the government issues order in this regard, I will take matter to the central bank’s board,” said Dr Atiur Rahman.