Pay Revision for CPSU Officers

A Bonanza to the Officers of Central Public Sector Undertakings, the Government has hiked a hefty 50 to 300 percent increase in the pay package from january 1, 2007.

The decision taken by the cabinet at a meeting chaired by Prime Minister Manmohan singh, was based on recommendations given by the Retired Supreme Court Chief Justice M. Jagnnadha Rao Committee for Second Pay Revision.

If approved, Unifor Fitment of 30 percent of Basic Pay plus Dearness Allowance for Profit making PSUs with effect from January 1, 2007. For other PSUs the fitment will depend from 10 to 20 percent.

Extra outgo on account of the new pay structure would be borned by the individual PSUs and budgetory support will be provided.

The Cabinet relied on the committee of the secretaries recommendations to classify the PSUs into four category A,B,C &D instead of five categories A+,A,B,C,D recommended by the Rao committee in may 2008.

The Chairman of the "A" category PSU will be eligibile for Rs.80,000 to Rs.1,25,000 pay scale as against 18,500 to 23,900 presently.

There are 247 CPSUs out of which 216 are in operation. In all 16,14,000 are employed in these, of which 12,36,000 are unioninsed workmen who will negotiate their wages directly with their respective companies.

What they Say?

The Executive Board of SCOPE, constituting Chairman and Managing Directors of various PSEs like oil, power, steel, coal, aviation, housing, had met and raised the issue of delay and expressed anxiety over it, SCOPE said in a statement. The Pay Revision Committee Report was submitted to the government in May. However, even after four months there has been no progress in its implementation, it added.

The body said public sector employees are hot targets for the private sector, who are willing to employ them at higher salaries, primarily in the present scenario where there is shortage of skilled manpower. According to them, the PSE pay panel recommended only a hike ranging from 25 to 40 per cent for the employees of the public sector enterprises. Th

What will be my Revised scale of pay as per the revised recommendation of the Committee. This is the question raising among the Officers of the CPSUs right now. It will take some time to clear their doubts and get their exact figures, right here.

Today 30th March 2009, Government says okay for further hike for the Oil PSU Officers Pay Revision which benefits for the 4,00,000 officers from the hike announced in the Pay Revision last year.

The decision to increase the salary structures of the officers, alongwith supervisory staff was taken at the cabinet meeting presided over by the prime Minister manmohan Singh.

The revised pay package which includes increase in House Rent Allowance and Retirement benefits.

These descision were taken based on the strike initiated by the Oil PSU Officers during january this year.

Home Minister Chidambaram informed that the benefits will be vary from company to company.

Exxcluding Retirement benefits, on a basic salary of Rs.100 an officer will now draw Rs.370.48 against Rs.351.12 which was approved last year.