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The decision, taken by the Cabinet at a meeting chaired by Prime Minister Manmohan Singh, was based on recommendations given by the Second Pay Revision Committee.
The package would include revision in Dearness Allowance and other allowances, besides performance related incentives, Minister of State in Prime Minister's Office Prithviraj Chavan said in New Delhi.
Extra outgo on account of the new pay structure would be borne by individual CPSUs and no budgetary support is involved.
"The revised pay scales would be implemented by issue of Presidential Directive in respect of each CPSE separately by the administrative ministry concerned," he said.
While the new pay structure would be implementable from January 1, 2007, the new allowances would accrue to employees only after the decision is notified by individual units.
Earlier, the government had approved implementation of the Sixth Pay Commission for central government staff and it was implemented from September 1, this year.
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The message that there is an increase of 150% for PSU employees is totally false. In fact the increase allowed is only 17.46% from the existing pay as on date. An uniform increase of 30% is allowed as 1-01-2007. But this same rate of 30% increase is allowed as on the date of notification (from 1-10-2008 also)by way of reducing the rate of IDA. All the CPSU employees are be-fooled. As the oil sector PSUs and Poweer Sector PSUs get different form of incentives they may not be much worried about this meagre increase. Alas! the poor sufferers are the employees of Central Government .The Government should consider atleast to give an increase of 42 % as recommended by the committee with out any reduction in the existing rate of IDAs
dear sir, my name is raja shekar reddy . sir, my mother was admitted in heart hospital in bangalore now i need money for operation kindly help as well as possible..
Dear friends, when the model code of conduct was not an issue at all to increase the pay and allwances to PSU's, why UGC/MHRD is keeping silent on the UGC 6th pay review. why do you humiliate the poor teachers. no extra salary (I mean kick backs) for them as in case of other servises.please announce the hike in salary as modified by UGC. Give PB 4 to all the readers with grade pay of rs 8900 which is their legitemate right. This is nothing additional than what it has been given in 6th CPC to all our central staff by Sri Krishna.
Well done Manmohanji
It is a good relief to PSU'S officers considering that inflation is all times low @8.9% . No better times than this for such an kindly act from GOI