PSU Pay/Wage Revision-Pay Hike
Posted by nowtoday on March 30, 2009
Today the PSU Pay revision is made, here there will be increase in the salaries.
Over 1.6 million employees working in the estimated 240 central public sector undertakings (PSUs) are likely to receive a 50 to 60 per cent salary increase, possibly with retrospective effect from January 2006. The second PSU pay revision committee, headed by former Supreme Court Justice M Jagannadha Rao, is in advanced stages of finalising its award due April-end and plans to submit its report to the government soon after. Officials in the know of the committee deliberations added that two chapters of the report have already been finalised. A committee member told Business Standard that PSU salaries cannot be equated with government wages as the public sector has to compete with private companies that offer much higher compensation. “The sixth Pay Commission report has also said that PSU salaries should not be linked to government. We are taking a realistic view of the situation,” he said.More info here