Free Press Journal

Officers of leading Maharatna firms demand pay revision

New Delhi : 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.

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 w.e.f. January 2012. The last pay revision had come into effect in January 2007.

The 2nd Pay Revision Committee, under the Chairmanship of Justice (Retd.), M. J. Rao, has opined 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”.

They added that the provisions of increase in DA and annual increment of 3% have failed to counter the escalation in expenditure for basic needs.

The Confederation has requested the Government to provide immediate interim relief by merging 50% of DA with Basic Pay w.e.f. January, 2012 & ad-hoc relief towards the same be released immediately.