THERE is some good news for the tens of thousands of employees working in as many as 18 sick Central Public Sector Enterprises (CPSEs). These employees will soon...get their pay hike as, according to media reports. The Cabinet Committee on Economic Affairs (CCEA) next month may take up the proposal of revising salaries of employees in 18 sick PSUs. Among others, the employees of watch-maker HMT Ltd and newsprint manufacturer NEPA may emerge as beneficiaries out of this government intervention.
At present, executives and non-unionised supervisors of these CPSEs draw their salaries based either on 1987 or 1992 pay scales. The employees in the profit-making CPSEs, on the other hand, get salaries and other allowances based on 2007 pay scales. The Department of Public Enterprises (DPE) had recently submitted a proposal to the CCEA for considering revision of salaries in the 18 sick CPSEs.
The CCEA is likely to take up the proposal to allow 1997 pay scales to executives and non-unionised supervisors of these 18 sick PSUs who are either following 1987 or 1992 scales of pay.
HMT Watches, HMT Ltd, Nepa are the ones among the 18 PSUs identified for the purpose. Of the total 260 CPEs, about 66 are sick units, including Hindustan Cables, HMT Watches and ITI Ltd, as on March 31, 2012. The Board for Reconstruction of Public Sector Enterprises (BRPSE) had recommended to the DPE for wage revision in these loss-making units. The BRPSE has also recommended to the DPE that 45 CPSEs have the potential for revival and the government has approved their revival plan. Some of these CPSEs are: Hindustan Salts Ltd, Bridge & Roof Co. (India) Ltd, BBJ Construction Co. Ltd, Tyre Corporation of India Ltd, British India Corporation Ltd (under ministry of textiles), National Textiles Corporation Ltd, HMT Bearings Ltd (under department of heavy industries), Praga Tools Ltd (under department of heavy Industries), Braithwaite & Company Ltd (under ministry of railways), NEPA Ltd. etc.BRPSE, set up in 2004, is an advisory body to the government on revival and restructuring of sick PSUs.