The bank and financial institution division of finance ministry has approved the proposed organogram of the Bangladesh Securities and Exchange Commission to create 456 additional posts from the existing 164, said a BSEC official on Sunday. The BSEC official also said, ‘The finance ministry has recently sent the proposed organogram to the public administration ministry and then it will be sent to the secretaries committee for approval.’
Once the organogram gets approved from all the relevant authorities, the number of employees of the BSEC will increase to 620.
As per the organogram, a post for chief accountant will be created under the BSEC to increase the regulatory supervision over the listed companies and to prevent manipulative financial reporting.
The BSEC said it would require additional manpower to implement 10-year master plan and to introduce commodity and derivative exchanges.
Increased manpower will facilitate the regulator to implement suggestions made by the committees on stock market manipulations in 1997 and 2011, according to the proposed organogram.
The increased manpower will also facilitate the capital market watchdog to enhance its supervision over the market, stock exchanges, market intermediaries, setup intelligence department and to arrange training for investors regularly, said the BSEC.
The stock market regulator also said the increased manpower would also enable the BSEC to perform its market supervision more efficiently and promptly.
A finance ministry letter sent to the public administration ministry also mentioned that finance minister AMA Muhith had already gave his consent in this regard.
The commission will bear all the expenses for increased manpower and increased salary structure for the commission’s employees like Bangladesh Bank, the ministry letter said.
-With New Age input
