Union Minister of Steel Jyotiraditya Scindia said that the clause about ‘higher income for the last three years’ was the reward for paying increments and promoting officers and non-executives of Central Public Sector Undertakings (PSUs).
He was responding to a question from BJP MP GVL Narasimha Rao in the Rajya Sabha, whether the Steel Ministry would consider the request of the directors and non-executive directors of RINL-Visakhapatnam Steel Plant (VSP) on the dismissal of advertising and non-payment. increase.
Mr. Narasimha Rao, of the 5,200 executives of VSP, about 300 are retiring every year and of the 10,000 non-executives about 900 are retiring every year and there is no hiring from 2019. .
He said that the cost to the company is limited and sought to know if the Ministry will look into the problem and open the release of advertisements.
Citing the example of SAIL, Mr. Scindia said SAIL had incurred losses in 2014, 2015 and 2016 and therefore the compensation could not be adjusted. During the last three years SAIL has been profitable and hence the wage adjustment agreement has been made.
The Minister said about the RINL-VSP, “It needs to be seen if RINL comes under the clause of three years. If it is not given under the terms of the clause, it cannot be given.”