SAIL Board approved demands of 15% Minimum Guaranteed Benefit (MGB), 35% variable perks and arrears payment from April 1, 2020 for Pay Revision of Maharatna company executives.

Steel Executives Federation of India (SEFI) office-bearers expressed gratitude for the pay revision, meeting to expectations of the company executives in the challenging scenario of rising coal rate.

N K Banchhor, Chairman, SEFI informed that it was thoroughly discussed in SAIL-SEFI meeting, held on September 16 this year and in accordance of recommendations of Department of Public Enterprise (DPE) the maximum possible benefits have been given and now it has also been approved in SAIL Board meeting, held on Friday. However, arrears payment was expected from January 1, 2017, but owing to certain developments in the past it happened to be a tricky issue.

In the future course of action, SEFI office-bearers would workout plan for getting complete due arrears payment. The pay revision benefits would be implemented with approval from Ministry of Steel and issuance of subsequent order.

To a query regarding pay fixation and due benefits of pay revision to Junior Officers (JOs), Chairman-SEFI, Banchhor replied that pay revision benefits would be implemented after pay fixation as it is a SAIL level issue.

With specially constituted committee will put up report the issue of pay fixation would be sorted out. It was delayed owing to several rounds of meeting for finalising wage revision. He also added that the expected pay revision ultimately owed to committed work force of SAIL and dedication of its officers.