Millennium Post

Maharatna company officers’ body demands pay revision

Maharatna company officers’  body demands pay revision
Officers of India's leading Maharatna companies have come together to form a confederation, which includes representatives from the officers associations of ONGC, SAIL, IOCL, CIL and NTPC. The confederation has  approached the government with request for pay revision for officers of CPSEs.

The last pay  revision had come into effect in January 2007.
Leaders of the Confederation of Maharatna Company Officers' led by Mukul Kumar, convenor, met the secretary (Department of Public Enterprises), for advising the concerned CMDs and boards to initiate the process of pay revision for officers of CPSEs with effect from January 2012.
The 2nd Pay Revision Committee, under the Chairmanship of Justice M J Rao, has opined in the preface report that the responsibility of future revision should be given to the Board of Directors of a company subject to the approval of the concerned ministry in discharge of its role as shareholders.  

 In line with the directions of the M J Rao Committee, respective associations have raised the issue of pay revision with the Board of Directors of the companies. However, no action is being taken on the requests of the officers association of individual companies.
The officers of PSUs are facing a severe hardship in managing their family needs due to severe erosion in the real compensation in view of spiralling inflation during the past six years.  The confederation has requested the government to provide immediate interim relief by merging 50 per cent of dearness allowance with basic pay with effect from January 2012 and ad-hoc relief be released immediately.
Agencies

Agencies

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