Rs 1 lakh basic pay mooted for PSU chiefs

The pay revision panel for the Central Public Sector Enterprises submitted its report to the government on Friday recommending basic salaries going up to Rs 1,00,000 per month for heads of the CPSEs.

The effective date for new scales and allowances has been fixed as January 1, 2007.

Allowances and perks will be up to 50 per cent of revised basic pay. House rent allowance and retiral benefits are outside the

basic pay limit.

The report was presented to Heavy Industry Minister Santosh Mohan Dev by the Second Pay Revision Committee Chairman M Jagannadha Rao in New Delhi.

The pay revision report for CPSEs follows the Sixth Pay Commission Report which was submitted in March this year.

• The Sixth Pay Commission