New Delhi , September 22, 2008 :In the Executive Board meeting of the Standing Conference of Public Enterprises (SCOPE) held recently, the members expressed anxiety over the delay in implementation of the recommendations of the Second Pay Revision Committee. The Board felt that this is causing restlessness among the Officers’ Associations of various Public Sector Enterprises (PSEs) and threatens to defeat the purpose for which the Committee was formed under Justice Jagannadha Rao.
The Executive Board of SCOPE is constituted by CMDs and Directors from various PSEs straddling sectors such as oil, power, steel, coal, aviation, housing, construction, consultancy, heavy engineering and defence production etc.
It may be recalled that the Second Pay Revision Committee had submitted its report to the Government on 30 th May 2008. After receiving the report from Justice Rao, Union Minister for Public Enterprises, Mr. Sontosh Mohan Dev had said that the proposals are aimed at stopping the exodus of CPSEs employees to the private sector. However, almost four months have passed without any progress on implementation of its recommendations. This delay will not fulfill the aim of stopping exodus of talented executives of PSEs who are hot targets of private sector that is willing to employ them at higher salaries, especially in the current scenario of a shortage of skilled manpower.
It is pertinent to mention that there are about two and a half lakh executives who manage an investment of over Rs. Four lakh crore in 244 Central PSEs and shoulder the onerous responsibility of running mega corporations on the path of success in today’s market oriented economy.