As per the resolution, payment on account of overtime for working on holidays will be restricted for attendance on Saturdays only. However, in case where the employees are required to work on Sundays and other public holidays, they would be entitled to claim a compensatory off in lieu of pocket expenses or overtime as admissible.

According to the company, "No additional payment would likewise be paid for attending office before 0900 hours on a working day except for drivers." The employees union of SCI has opposed the move as, according to it, in the last six months the company has spent only about Rs 19,000 on overtime.

A SCI union official said thecompany can save substantially on foreign tours, entertainment expenses of directors and delays in scrapping the vessels (SCI has reportedly lost around Rs 6.8 crore on this in the last two years).

"The management cannot give a compensatory off in lieu of a day's work as it is against the agreement signed between us," he added. According to him, the cut in overtime will affect SCI as it has stopped recruitment. "If the company does not continue overtime, employees will not be available to attend ships arriving at odd hours," the official said.

SCI has also decided that profit centres should ensure timely raising of debit notes and make concerted efforts for recoveries of outstandings. Cargo claims are also to be monitored closely and ship staff as well as port operations along with managers will be directed to avoid any cargo claims. In fact, the company in its circular has stated that efforts should be made both by port operations and line managers of profit centres to minimise port stays througheffective co-ordination between all agencies.

"Idling of vessels for employment must be strictly monitored and continuous efforts made for fixing cargo and vessel in time," a company note said. Generally, all profit and service divisions have been directed to cut costs, minimise losses and increase revenue by taking timely decisions and monitoring operations closely. This would also include effective management of cash resources, currency fluctuations and recovery of outstandings for improving interest earnings.

SCI has also shelved distribution of corporate gifts for festive seasons and increased the interval for painting the company's owned and leased flats for directors and officers to atleast three and five years apiece.

The `no limit' call facility for residential phones for officers other than directors and the chairman and managing director will be withdrawn. It is proposed to be substituted by a specified higher limit for individual officer wherever required on a selective basis.

Phone and faxbills in excess of Rs 20,000 per billing cycle and period for direct numbers allotted in the office will be required to be shown to the concerned directors and department heads for certification before payment of the subsequent bill.

BOX

PSUs under watch: In view of the ballooning fiscal deficit, the government intends to crack the whip on PSUs through a series of austerity measures.