The Committee of Secretaries (CoS), which is likely to meet up next month, may deliberate upon the issue of implementing performance-related pay in Coal India's loss-making subsidiary. A meeting, held on July 10 to discuss the same issue remained inconclusive as COS sought more information on Coal Ministry’s proposal to provide Performance-Related Pay (PRP) to executives of loss-making CIL’s subsidiaries including Eastern Coalfields and Public Enterprises (DPE), a move which met strong resentment from Department of Expenditure and Department of Public Enterprises (DPE).
The Coal Ministry has sought permission for permitting Coal India to decide upon the corpus of PRP due since 2007 on Profits Before Tax based (PBT) on its consolidated accounts and not from the individual accounts of its subsidiaries as required by the DPE. The proposal after being passed by CoS will go to Cabinet for approval.
