The proposed salary (total) for the chairman has been increased by 233.33 per cent and those for commissioners by about 151 per cent from the existing total salary, they said.
Per month total salary of the chairman of the BSEC has been proposed at Tk 310,000 while that of the commissioners at Tk 207,000. Presently, the chairman and commissioners of the regulator get a total of Tk 93,000 and Tk 82,500 per month, they added.
The proposed salary structure for chairman and commissioners of the regulator of the country's capital market has recently been submitted to Finance Minister AMA Muhith by the BFID of MoF for his consent, an official concerned of the division said.
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 required 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.
Speaking on the issue former finance adviser to a caretaker government AB Mirza Azizul Islam told the FE: "Salaries of the chairman and commissioners cannot be raised in such a way that creates any discrimination among the officials. It should be logical."
Meanwhile, sources concerned said if the salary structure is not a reasonable one, it might have an adverse impact among the government officials.
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 performed 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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