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Pay hike for central PSU employees on the cards




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20 Jun, 2017 10:22p.m.

After the Centre announced Seventh Pay Commission allowances to nearly five million central government staff last year, a similar pay bonanza now awaits a large section of officers and workers employed at the central public sector enterprises (CPSEs).

Of the total 244 operating CPSEs, only 100 enterprises could be eligible for pay revision though as they meet the “affordability criteria” suggested by the 3rd Pay Revision Committee (PRC), a report in the Financial Express said. As per the estimate, the total workforce comes to around 12.3 lakh, of which 3.8 lakh are officers and the rest non-officer staff.

Pay hike to the CPSE officers could cost these enterprises Rs 7,000 crore in 2017-18, as the revised salaries would be with retrospective effect starting January 2017.

In case of CPSE workers, who account for over two-third of the total CPSE staff, pay revision will cost these firms around Rs 10,000 crore annually, the FE report said.

Read full @ http://www.firstpost.com/business/pay-hike-bonanza-worth-rs-17000-cr-for-central-psu-employees-on-the-cards-says-report-3723797.html


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