Revised pay matrix for CPSEs soon; employees could face salary cut
Failure in meeting the revised performance-related pay criteria will not only mean rating downgrades for the CPSEs but also cut in the variable pay of its employees
BusinessToday.In | February 22, 2021 | Updated 17:53 IST
With revised matrix for PRP, government aims to include these criteria in customary MoUs being signed between PSUs and administrative ministries in current fiscal year itself
The central public sector enterprises (CPSEs) employees may face a steep reduction in performance-related pay (PRP) if a public sector company fails to meet certain targets like m-cap, return on capital, asset-turnover ratio and Capex and production targets.
Company Description
Ardmore Shipping Corp owns and operates a fleet of mid-size product and chemical tankers, which provide seaborne transportation of petroleum products and chemicals across the globe. The company is focused on fuel efficiency and cost leadership, and it provides its shipping services to customers through voyage charters, commercial pools, and time charters. Its main customers are oil majors, national oil companies, oil and chemical traders, and chemical companies.
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BPCL, Air India stake sale by September this year, LIC IPO after October
The initial public offering (IPO) of India s largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government s divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal.
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