Monday, June 13, 2016

Acche din for PSU executives: Government forms pay revision panel

ENSURING acche din for tens of thousands of executives of central public sector undertakings, NDA Government last weekend said it had constituted a committee for making recommendations on revision in pay scale of Directors, executives and other supervisory staff of PSUs.
The last pay revision for the executives of central public sector undertakings came into effect from...
January 1, 2007.
The panel, chaired by Justice Satish Chandra (retired) will make its recommendations within six months from the date of its constitution. The government’s decision on the recommendations of the committee will take effect from January 1, 2017. The government appointed a committee to review and revise the structure of salary and emoluments of these employees at central public sector enterprises (CPSEs).
The terms of reference of the committee are to review the structure of pay scales, allowances, perquisites, and other benefits for board-level functionaries, below-board-level executives and non-unionised supervisory staff, taking into account the salary, emoluments, incentives and other non-monetary benefits available to them and suggest changes "which may be desirable, feasible and affordable".
The committee will make recommendations to enable CPSEs to become "modern, professional, consumer-friendly, commercially successful and competitive entities committed to national development goals and dedicated to service of the people," as per the terms.
"The committee will provide its recommendations on the matter to the government, covering Board level functionaries, below-Board level executives and non-unionized supervisory staff of CPSEs.
"While submitting the final recommendations to the government, the committee shall also take into account the Report of the 7th Central Pay Commission," the Department of Public Enterprises said. The other members of the 3rd Pay Revision Committee include Jugal Mohapatra, Ex-IAS Officer; Manoj Panda, Director, Institute for Economic Growth Delhi and Shailendra Pal Singh, Executive Director (HR), NTPC Ltd. The Secretary, Department of Public Enterprises will be the ex-officio member while the Joint Secretary/Additional Secretary, DPE will be the member secretary for the committee.
The seventh central pay commission has recommended a 23.55 per cent hike in the cumulative earnings of serving and retired central government employees, saddling the Union government with a bill of Rs 1.02 lakh crore in the next financial year. The figure of 23.55 per cent covers the increases in pay, allowances and pension. However, the recommended raise in basic pay is only 14.27 per cent – the lowest in 70 years. The basic pay determines various allowances. The previous commission had recommended a 20 per cent hike, which the government doubled while implementing it in 2008.

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