Discontent among DSE officials over promotion closure

:: Peoples Time Online :: 

Promotion and salary increment of Dhaka Stock Exchange (DSE) officials have been held showing excuse of not having regular managing director in the bourse that left them outraged.

Every year officials of the country’s prime bourse are promoted to next levels and their salary raised evaluating their performance.

Though promotion remained shut because of not having regular MD, two vacant posts– chief operation officer (COO) and MTO– in the bourse were filled up. Besides, efforts are on to appoint general manager (GM).

The officials alleged that promotion or increment process was halted in intervention of acting MD Abdul Matin Patwari, also chief finance officer (CFO).

After he joined as CFO, they said, launched KPI (key performance indicator) to evaluate officials and employees that created difficulties in case of promotion and increment of those who work in DSE for long.

Being aggreived, several officials complained to Bangladesh Securities and Exchange Commission (BSEC) in this regard that prompted BSEC to take initiative for making a DSE service rule at the outset of last year.

The service rule has already been sent to DSE authorities by the regulating association but KPI based evaluation system still now exists in promoting officials of DSE, covering up the former.

The KPI based evaluation created discrimination among the employees. Under the system, junion officials are given poor marks and not promoted them in next level and their salary raised in the end of year while departmental heads are given outcasing mark and they get promotion as well as their salary rises by 5 per cent. Besides, good mark gainers get 4 per cent salary increase but don’t get promotion.

Those familiar to Matin Patwari have been made COO and MTO despite there is no managing director in DSE, an official of the stock said, adding that a portion of DSE officials are deprived in different ways for long while higher ones favour their close.

Declined to be named, a deputy general manager of DSE saidacting MD held their KPI in unknown reason despite board of directors verbally asked to give it.

This reporter several times tried to contact with DSE acting MD Abdul Matin Patwari over phone but could not reach him.

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