This memorandum, issued by the Ministry of Finance, Department of Public Enterprises, clarifies the terms and conditions and pay fixation for Board Level Executives in Central Public Sector Enterprises (CPSEs). It responds to concerns raised by various Ministries/Departments regarding the application of para 21 of the revised Charter of Financial Advisors dated 13.06.2023. This charter had included pay fixation as an item not to be referred to Financial Advisors.
Finalization of Terms & Conditions and Pay Fixation of Board Level Executives
No.W-02/0009/2023-DPE (WC)-GL- XVII/2023
Government of India
Ministry of Finance
Department of Public Enterprises
Public Enterprises Bhawan,
Block No.14, CGO Complex,
Lodhi Road, New Delhi-110003.
Dated, the 13th September, 2023
Subject: – Finalization of Terms & Conditions and Pay Fixation of Board Level Executives- Clarification on Competent Authority-regarding.
The undersigned is directed to say that representations have been received from Ministries/Departments regarding clarifications in respect of finalisation of Terms & Conditions and pay fixation of Board Level Functionaries of CPSEs in view of para 21 of the revised Charter of Financial Advisors dated 13.06.2023 issued by Department of Expenditure (DoE) wherein Pay fixation is included as an item in the negative list which should not be referred to Financial Advisor.
- The matter was examined in consultation with the Department of Expenditure (DoE). DoE vide O.M. No. 20(4)/E.Coord/2023 dated 31.08.2023 (Copy enclosed) has inter-alia clarified that the Pay Fixation of Board Level executives of CPSEs will continue to be done as per DPE’s O.M. No. 2(34)/12-DPE(WC)-GL-XX/12 dated 14.12.2012.
- All administrative Ministries/Departments of the Government of India are requested to bring the above to the notice of CPSEs and FA of the Ministry/Department.