Thiru. T.R. Baalu approves 50% D.A. merger with the basic pay for the employees of SCI

The Union Minister for Shipping, Road Transport & Highways, Thiru. T.R. Baalu has approved the merger of Dearness Allowance (D.A.) equivalent to 50% of the basic pay in the pay scale of 1997 level with effect from 1st January, 2007 for the 1015 shore employees of the Shipping Corporation of India (SCI). The measure, taken as goodwill gesture, will substantially benefit the employees and is likely to motivate them to strive for achieving greater heights of performance. The estimated financial implication by way of arrears (excluding the pay out due to PRI) for the period 01.01.2007 to 31.03.2008 would be Rs.320 lakhs (approximately) and for the year 2008-09, it is estimated at Rs.500 lakhs at the current rate of Dearness Allowance. The SCI, one of the undertakings under the administrative control of the Ministry of Shipping, Road Transport & Highways, is an ISO 9001 certified Miniratna profit making company. The SCI is the largest shipping company in India and has a share of about 33% of the total Indian tonnage, owning a fleet of 79 vessels of deadweight of 4.758 million tonnes (comprising 30 crude tankers, 9 product tankers, 20 bulk carriers, 10 off-shore vessels, 3 liner vessels, 3 chemical carriers, 2 LPG / Ammonia carriers and 2 passenger carriers). In addition, the SCI also manages 53 vessels on behalf of ONGC and other Government departments. The SCI has on order 28 ships of about 2.4 million deadweight worth over Rs.6,000 crores comprising of 2 VLCCs (which are currently the largest ships on order by any Indian shipping company), 6 LR I product tankers, 2 cellular container vessels, 2 MR product tankers, 2 LR II product tankers, 4 Aframax crude oil tankers, 4 Anchor Handling, Towing & Supply vessels and 6 Handymax bulk carriers. The Company has an ambitious plan to order / acquire 46 more ships during the 11th Plan period.

"Loved reading this piece by SANJAY DIXIT?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"

Join our Telegram group

Join our Whatsapp group