The new DSE board is serious in sheding
A special committee recently formed to identify the extra human resources recruited at DSE which has found that the DSE has additional 60-70 manpower than its requirement.
The committee prepared report titled “The evaluation of officers and employees at the DSE” was discussed at the board meeting on Sunday (July 12) revealed this information about the additional manpower.
According to the report, unnecessary manpower has been recruited at DSE instead of where it is needed. These have been done more at the assistant level. Through this the tail has been made heavy.
Therefore, in Sunday’s meeting, the DSE board has given 3 working days to explain to the management about hiring more manpower than required. Which will be presented at the next board meeting (July 18). In the light of this, the board will decide to resolve the issue of additional manpower.
In the long course of 54 years of DSE, many changes have taken place in the board and management. High-paid management people are being hired. But the fate of the stock exchange shareholders has not changed. The stock exchanges are still in profit due to having FDR. And ‘B’ category is able to pay dividends.
Until the 2012-13 financial year, both the stock exchanges of the country were non-profit organizations. However, it became a for-profit organization by demutualizing 21 in 2013. After that, from the financial year 2014-15, both the stock exchanges have to distribute dividends.
The DSE spent Tk 39.47 crore in 2018-19 financial year. On an average, Tk 92,000 per month has been spent for each officer-employee.
Dhaka Stock Exchange (DSE) has been running on the interest payment of its fixed deposit despite the bourse was demutualize to make it profitable as an independent company.