Public Sector Undertakings Pay Revision, India,
The Union Cabinet has approved an average 67% hike in salary of around 16 lakh employees of public sector companies (PSU). This pay hike of PSU workers will be effective from January 1, 2007. It was informed by said Heavy Industries Secretary R Bandyopadhyay.
It is to be noted that the Central government employees were awarded around 40 % higher wages, earlier this year.
However, when the new basic pay is merged with the dearness allowance/DA, the employees get an effective hike of only 20-25 per cent.
There is good news for Chairmen of public sector companies such as Oil and Natural Gas Corporation (ONGC) or BHEL, who will now get a basic salary of around Rs 1.25 lakh per month in comparision to the present salary of Rs 25,000 per month.
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