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Banks’ pay scale awaits ‘adequate’ legal advice

  • Published at 06:32 pm January 22nd, 2014

The government has sought a detailed legal suggestion from law ministry on a separate pay scale for Bangladesh Bank and four state-owned commercial banks.

Earlier, the ministry gave an opinion which, according to the officials, was not complete as it only suggested amendment of the relevant law but didn’t say how to amend it. 

Now the finance ministry wants suggestions on how to amend the Services (Reorganisation and Conditions) Act, 1975 to implement a separate pay scale for the banks.

Bangladesh Bank’s pay scale is out of the purview of the act.

To bring the staff of the central bank under a separate pay scale with the state-owned four commercial banks, the law will have to be amended.

“The previous legal advice from the law ministry was not enough and lacked adequate instructions on amendment of the law,” said a finance ministry official.

“Due to pressure from Bangladesh Bank, the law ministry might have done it hurriedly.”

Finance Minister AMA Muhith on Tuesday reiterated that the government would soon implement a

separate pay scale for Bangladesh Bank and four state-owned commercial banks.

He said: “The process of implementation would start from where it got stuck.”

According to the official sources, the implementation division of the finance ministry sought suggestion again from the law ministry on a separate pay scale before January 5 election.

Implementation of separate pay scale for the employees of Bangladesh Bank and four state banks has been stuck due to legal complexities.

Prime Minister Sheikh Hasina signed the recommendations of the secretaries’ committee on separate pay scale on November 12 last year.

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 for the highest grade will be Tk55,000.

Currently, the four banks have around 90,000 employees while the central bank has nearly 6,000.