DHAKA: The National Pay Services Commission (NSPC) has recommended the formation of a separate bank named "Sommriddhi Shopan" for civil servants.

NSPC chairman Mohammed Farashuddin told the journalists after submitting the commission’s report to Finance Minister AMA Muhith Sunday morning.

Farashuddin said Army’s Sena Kalyan Sangstha has a piece of land in the city’s Dainik Bangla area. The report suggested selling of the 20 to 25 kathas land to form of the banks. Government officials and employees will be the owners of the bank.

The bank may be a commercial one where everyone will have a share worth Tk 4,000, he added.

Farashuddin said a compound increment of government job holders has been proposed. As a result, salary will increase in twofold within 15 years since one joins in the job.

On the other hand, a salary of Tk 25,000 has been recommended at the entry level of eight and ninth grade jobs to attract the meritorious students to government jobs.

Farashuddin said the new salary structure has been recommended after observing the inflation of six years and the neighboring countries’ scenarios.

The commission did not support separate pay scales for public universities and state-owned banks and insurance, but Bangldesh Bank may have a separate salary structure, opined Farashuddin who served as Bangladesh Bank governor from November, 1998 to November, 2001.

BDST: 1505 HRS, DEC 21, 2014