Future uncertain, present tense for oil PSUs men

The harsh move of the government against striking oil PSUs have unnerved them.
1/14/2009 5:49:31 PM

New Delhi: The tough stand taken by the government against the striking members of the Oil Sector Officers' Association (OSOA) seems to have rocked the rank and file of the Public Sector Undertaking (PSU) oil officials.

Atleast 70 officers from different oil PSUs have come in severe spate of the three-day strike called by OSOA in support of its demand for a pay revision.

Sixty four officers of the ONGC and three each from IOC and Gas Authority of India (Gail) were terminated and served notices to immediately vacate their official premises by their respective managements.

Apart from this, around 40 employees of oil PSUs have been suspended and 1,200 Gail employees have been charge sheeted. Strict action against a large number of employees for participating in the strike was also in the pipeline.

Talking to a cross-section of the officers of the oil PSUs revealed that the government's harsh move against the strikers had virtually suppressed their morale and many of them were looking for options in private sector oil companies.

According to an official, it was quite surprising that the government did not take a decision over their demand for a sustainable hike in their salaries and allowances despite the fact that top six oil companies namely Indian Oil, ONGC, BPCL, HPCL, Gail and EIL together netted turnover of Rs 555,924 crore in FY 2007-08 against Rs 346,706 crore in FY 2006-07 registering a growth of 60.3 per cent in FY 2007-08.

Even, the profit before tax (PBT) of these PSUs contributed Rs 45,235 crore in FY 2007-08 against Rs 22,380 crore an increase of 102.1 per cent, he added.

Not only turnover and PBT, the profit after tax (Pat) contribution from 'these six PSUs was Rs 29,363 crore in FY 2007-08 against Rs 15,310 crore, an increase of 91.7 per cent.

"Our hard work gets reflected in the balance sheet," he said.
After having done outstanding results year after year (See Table) is it not the responsibility of the Ministry to reward their employees, asks another officer?

The government move is not going to benefit the state exchequer rather it was pitch forked at vested interests, quips another official.

The OSOA has been fighting for the last two and a half years with no success as the pay revision has been due since January, 2007. Despite assurances from the government nothing has happened and the final outcome was totally against the discussions that had taken place. Not only this, the strike was deferred thrice on October 21, November 18 and December 2 last year.

The Ministry even rejected the recommendations of Second Pay Revision Committee headed by Justice MJ Rao.

Source: http://www.igovernm%20ent.in/site/%20Future-uncertain%20-present-%20tense-for-%20oil-PSUs-%20men/ ent.in/site/ Future-uncertain -present- tense-for- oil-PSUs- men/

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