Further Pay Revision for PSU Officers

About four lakh officers of central public sector enterprises will benefit from a government decision today giving them a further increase in salary and allowances, over and above the hikes announced last year. The decision to improve the salary structure of officers at board level and below, along with supervisory staff, was taken at the Cabinet meeting presided over by Prime Minister Manmohan Singh.
The improved pay packages will also include increase in house rent allowance and retirement benefits. The decisions are based on the recommendations of the committee of ministers headed by Home Minister P Chidambaram, which went into the revised salary and allowances notified earlier in November last year by the government. PSU officers, particularly in the oil sector, forced the government to revisit their revised pay scales when they went on strike in January this year.
Briefing reporters after the Cabinet meeting, Chidambaram said the revision in the pay structure would vary from company to company. (Source : PTI News)