A day of dividends

A day of dividends
CMD of Hindustan Copper Limited KD Diwan presenting a dividend cheque for 2013-14 to union minister for mines, steel and labour and employment Narendra Singh Tomar (3rd from right) in New Delhi on October 16, 2014. Mines secretary Dr Anup K Pujari (4th from right) is also seen.

Wednesday, September 11, 2013

Employees of 18 sick CPSEs may soon get a pay hike; HMT, NEPA to benefit

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.

12 comments:

  1. This good news will become good when something really good will happen. From 1987 such news are seen in so many news paper and employees of PSU are befooled as nothing has happened.

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  2. THE GOVT , DHI , BRPSE AND ALL CHEATED THE SICK PSU EMPLOYEES FOR THE PAST 22 YEARS WITHOUT WAGE REVISION.OUR LAST WAGE REVISION WAS 1987.WHO IS THE RESPONSIBILITY FOR THE PSU BECAME A SICK PSU.WE ARE DENIED THE WAGE REVISION FOR 22YEARS.WE ARE ALSO PSU EMPLOYEE IN INDIA.NO ONE CAN HELP US ,PLEASE HELP SOMEBODY TO HELP US TO SURVIVE,WE ARE ALWAYS READY TO HARDWORK BUT WHO IS LEAD US.

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  3. OUR FINANCE MINISTER FOR HELP TO INDUSTRIALIST,HE IS NOT THINK ABOUT SICK PSU EMPLOYEES.OUR FINANCE MINISTER HAVE A SUPREME POWER.HE IS THE NEXT PRIME MINISTER OF INDIA.BECAUSE HE KNOWS THE BANK BALANCE OF EVERY POLITICIAN.

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  4. What is HMT Ltd Means Is it inclusive of all
    the subsidiaries pl? If otherwise what are
    those?

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  5. I too need answer for the same question:

    "What is HMT Ltd Means Is it inclusive of all
    the subsidiaries pl? If otherwise what are
    those?"

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  6. Shri Praful Patel ji informed the Board for Reconstruction of Public Sector Enterprises (BRPSE) was established by the Government in December, 2004 to advise the Government for strengthening, modernization, reviving and restructuring of sick and loss making CPSEs.But our FM was not accept the BRPSE recommendations,then what is the meaning of BRPSE recommendations? (The BRPSE 4 years studied all possibilities to revive the sick psu's then submit the proposal)

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  7. Read this, Its really well written

    http://www.thehindubusinessline.com/opinion/columns/r-srinivasan/euthanasia-for-sick-psus/article4051257.ece

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  8. More then 4 months have gone, nothing is done.
    In Hindi there is a tell "Jat mara jab janiye tervan ho jaye", it means Job is done when its results are received. It shows that GOI is least bother or has no interest in running these companies.
    It’s time the government stopped dithering on this issue. Sell off the PSUs if you must, revive them if you can or, failing both, at least shut them down. Killing them by neglect is worse.

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  9. This news and delay in the implementation reminds me the movie “The firm”, in one of the scene Tom Cruise asked to some one “Does the dog ever get the bone?” the man replied “The trick worked once and the dog was no good after that”.

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  10. They were busy with 7th pay and 2012 wage calculation,no time and no fund for sick psu revision.no one could consider 1987 pay scale employees.

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  11. once again the intelligent bureaucrats showing their sincerity .salary support was approved for 11 sick psu on 26th december 2013 for the month of april 2013 to august 2013,but the indias most powerful bureaucrats not giving the salary till date.what they gentlemens doing who's know.who's question them,why not the media people ask the authority.

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  12. Disinvestment has been used mostly as an instrument to reduce the fiscal deficit and wherever there has been an outright sale or transfer of management. There has been no value addition in market, system improvement, finances or management by this action. Instead in a parasitical manner the assets belonging to the erstwhile public sector have been entrusted to the nominees of the policy makers at a thrown away price. VSNL, BALCO and Hindustan Zink are few examples of this act.
    We demand that every political party that is contesting the elections spell out their stand in specific terms regarding the following issues:
    1. Policy regarding privatisation and disinvestment
    2. Role of Public Sector in various sectors of the economy.
    3. Alternative instruments of policy where private monopolies are being created (for example in electrical power sector, water, minerals etc)
    4. Autonomy in management to stop the political control over PSUs
    5. Safeguarding the interests of the employees and the public
    6. Role of Government where it is a minority shareholder.
    We demand that the political parties declare that upon coming to power they would bring out a white paper on Public sector spelling out in clear terms their policy with regard to the Public Sector.
    To save the PSUs & It’s Employees from the threat of perish due to the present policies and cut throat competition in the Indian and global markets and to boost up the PSU employee’s moral to high level , NCOA on behalf of all Indian PSU employees demands :
    1) Constitute an ombudsman, regulatory body or an overseeing body comprising of technical experts to watch and guide all the PSUs. This body shall study about the problems faced by individual organisations and the remedial measures are to be brought out for implementation by the Government. The estimates committee of the 3rdLoksabha in their 52nd report has mentioned about this and it is a step in the right direction.
    2) Setting up of a technology development organization to bridge the gap between industry and research. Quite a good amount of research work done by premier research organisations are not getting translated into technology. If this can be done to suit industry requirement the Indian industries can make big strides in the technology improvement front.
    3) NCOA demand a clear policy under which government will revive all Sick PSUs instead of a prolonged process through BIFR & BRPSE channels which will finally culminate in opting the route of privatization of the PSUs. Hence bring in a policy guideline which directs a stipulated time frame of not more than a year time to revive the sick PSUs. We suggest to make a separate corpus fond made out of the profit of CPSUs for the purpose of reviving sick PSUs.
    4) Many of the CPSUs could survive even in the present cut throat competition atmosphere and are making substantial profits but CPSU Executives are getting a paltry sum as their pay compared to employees of private companies and even the employees of Central Govt who are getting a handsome amount as pay without any linkage to their productivity. Hence we demand as an immediate relief 50% DA should be merged with basic pay.
    5) Many of the issues in the implementation of 2007 pay revision like PRP, pay revision to sick and marginally profit making industries, retirement benefits etc are unresolved even after repeated requests and may immediately be addressed. Immediate implementation of 2007 revision to the Executives of sick PSUs is solicited.
    6) Union Govt. which has formed the seventh Pay commission for Central Govt employees but hesitates to announce the formation of 3rd Pay revision committee for the executives of CPSUs. NCOA demands to Appoint the 3rd Pay commission for 2012 Pay revision of CPSU Executives.
    Baby Thomas, Secretary General NCOA

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