Sunday, April 6, 2008

PSUs seek freedom to fix variables like allowances and perks

Concerned over reactions from government employees to the quantum of hikes recommended by the Sixth Pay Commission, PSUs today sought freedom to decide on allowances and incentives to attract talent from IIMs and IITs, which has eluded them for over five years now.
"The pay packets are not enough even to pay back the loans taken for education in top business and technical institutions. During the last five years there have hardly been any induction among PSUs from IIMs and IITs.

"Are these institutions the nursery for MNCs only," S M Deewan, Director General of the apex body of Public Sector Undertakings, SCOPE, said today, demanding that PSU Boards be allowed to deploy a share of their profits for human resource development.

The Sixth Pay Commission has recommended an average increase of 40 per cent in the packages over that of the previous Pay Commission. Deewan's comments coincide with hikes in fees being announced by the IIMs.

The demand comes days before the submission of the report by the Second Pay Revision Committee, headed by Justice J M Rao, possibly by the month-end.

"If the government employees are dissatisfied with the Pay Commission recommendations, why do it to PSU executives," Deewan wondered and said that unless there is attractive entry level salaries and quick promotions and rewards for the performers the PSUs could be 'devoid' of top talent in the coming decade. (Agencies)

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