Govt approves higher pay for CPSU officers

In a bonanza to officers of Central Public Sector Undertakings, the Govt announced a hefty 50 to 300 per cent increase in pay-packages with effect from January 1, 2007.

The government on Thursday approved a hefty 50 to 300 per cent increase in pay-packages with effect from January 1, 2007.

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A Cabinet meeting, chaired by Prime Minister Manmohan Singh, approved the new scales for 1,20,000 non-unionised supervisory staff and 2,58,000 board level officers in 216 operational Central PSUs.

The revised pay scales would be implemented in respect of each company separately by the concerned administrative ministry and department.

“The payment of HRA, perks and allowances based on the revised scales will, however, be from the date of issue of Presidential directives,” an official statement said.

The expenditure on account of pay revision has to be entirely borne by the companies , out of their earnings and therefore, no financial outgo from the government on account of pay revision is envisaged.

An anomalies committee consisting of secretaries of department of public enterprises, department of expenditure and the department of personnel and training (DoPT) may be constituted to look into further specific issues / problems that may arise in implementation, the statement said.