About 400,000 officers of the central public sector enterprises (CPSEs) will receive pay hike of Rs 5,000-15,000 per month and the revised scales will come into effect in the next two-three months, public sector enterprises’ umbrella body Standing Conference of Public Enterprises (SCOPE) said today.
“The individual CPSEs have to seek the approval from their respective (administrative) ministries before implementing the hike... It will take about 2-3 months,” SCOPE Chairman Arup Roy Chowdhury told PTI.
Chowdhury, who is also the CMD of National Buildings Construction Corporation (NBCC) said, per month the executives would get a hike of Rs 5,000-15,000 depending on the scale and the company they work for.
The government had last month cleared a report of the Group of Ministers, bettering the emoluments for CPSE officers on top of what was notified in November 2008 based on the recommendations of the Justice Jagannada Rao committee.
With the Cabinet approving the proposal last week, 78.2 per cent of dearness allowance (DA) will be merged with the basic pay, against the 68.8 per cent announced in November last year.
The move would benefit officers in the long run. It would help them on retirement as the ceiling of 30 per cent towards superannuation benefits would be calculated on the basic pay plus DA instead of basic pay alone.
In fact, those public units which do not have superannuation scheme, may have to develop plans and obtain the approval of their administrative ministry, the Department of Public Enterprises said.
The merger of DA with basic pay would be effective from January 2007 and the benefits would be effective from November 2008.
