The representatives of Officers Association of Maharatna PSUs, under the banner of Confederation of Maharatna Company Officers (COMCO), met with Kusumjit Sidhu, secretary, Department of Public Enterprises, Government of India, on January 17.
They requested the secretary 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 with effect from January 2012 considering the periodicity of five years and also in line with the recommendations of Justice MJ 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. COMCO represents more than one lakh officers of seven Maharatna PSUs of the country namely BHEl, Coal India, GAIl, Indian Oil, NTPC, ONGC & SAIl. Mukul Kumar, convener, COMCO and president, IOOA, has explained 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 three per cent 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 government to intervene immediately. In the mean time, the confederation has urged the government to provide an interim relief by way of merging 50 per cent dearness allowance (DA) with basic pay (BP), withe effect from January, 2012 and ad-hoc relief be released immediately.