BBBF suggests more staff for jt stock firms’ registrar

Bangladesh Better Business Forum (BBBF) has suggested more manpower and modern equipment for the Office of the Registrar of Joint Stock Companies and Firms (JSCF) on an urgent basis to strengthen it and ensure better services.
The BBBF, formed in 2007 to improve the business environment through interactions between the business community and the government officials, also stressed full automation of the office to handle the workload.
Mahbubur Rahman, co-chairman of the BBBF working group for Business Entry and Operations, made the suggestions at a press briefing yesterday after visiting the JSCF registrar's office in Motijheel.
He also stressed the need for immediate steps to shift the office as the present office is too narrow to handle the workloads.
“There is almost no manpower in this office,” said Rahman, also president of the International Chamber of Commerce Bangladesh, adding that private sector is ready to give full support to improve the JSCF office.
JSCF Registrar Sheikh Md Mobarok Hossain said there were over 1.25 lakh registered companies in the country with only eight people dealing with registrations, name clearances and report returns filing.
“One person is responsible for 15,000 companies when one can see five files a day,” Mobarok said. Staff of the JSCF in all four offices, including the headquarters, totalled 39.
He said the BBBF had earlier asked the government to employ 22 people at the office immediately but the government refused.
The JSCF registrar said they prepared a database of 1.1 lakh companies registered until 2006 despite their shortcomings.
“Name clearance for any company now takes three days and registration takes seven days although we can take 30 days as per the law,” Mobarok said.
He said up to 40 companies were being registered and 100 got name clearance a day.
The JSCF earned Tk 70 crore in revenue in the last fiscal year.
At the briefing, Mahbubur Rahman urged the media to widen space for business reports, cover more business events and make investigative reports to improve the business environment of the country.
He also said the next elected government should continue the BBBF in the interests of economy.
“It should exist. It is a very good idea. The next government must maintain this forum,” Rahman said.