Dated: Jan 17, 2014
The representatives of Officers Association of Maharatna PSUs, under the banner of Confederation of Maharatna Company Officers (COMCO), met with Ms. Kusumjit Sidhu, Secretary, Department of Public Enterprises, Government of India on 17.01.2014, with a request to issue directions to the Board members of the Maharatna Companies and respective Ministries, to initiate the process of Pay revision for officers of PSUs w.e.f. January 2012 considering the periodicity of 5 years & also in line with the recommendations of Justice M.J.Rao Committee and by a Panel of Experts on Reform in CPSEs constituted by the Planning commission (Roongta Committee). Subsequently, COMCO representative addressed Press conference at Press Club of India. COMCO represents more than one lakh Officers of Seven Maharatna PSUs of the Country namely BHEL, Coal India, GAIL, Indian Oil, NTPC, ONGC & SAIL. Sh. Mukul Kumar, Convener-COMCO and President-IOOA, has explained in the Press conference that officers of PSUs are facing severe hardships in managing their family needs, due to severe erosion in the real compensation, in view of spiraling inflation during past six years, under the heads of food items, housing, education etc. The provisions of increase in DA and annual increment of 3% have failed to counter the escalation in expenditure for basic needs. The issue has been taken up at all forums, including PMO, but no action has been taken so far. Representatives of all the constituents of COMCO expressed deep dissatisfaction and urged the Govt. to intervene immediately. In the mean time, the Confederation has urged the Govt. to provide an interim relief by way of merging 50% Dearness Allowance (DA) with Basic Pay (BP), w.e.f. January, 2012 & ad-hoc relief be released immediately.