Kolkata: In a significant development ahead of the upcoming 4th Pay Revision Committee (PRC) for Central Public Sector Enterprises (CPSEs), the Indian Oil Officers' Association (IOOA) convened the first joint brainstorming session of executive associations from major oil and gas CPSEs in Kolkata.
The meeting was attended by senior representatives of officers' associations from Indian Oil, BPCL, HPCL, ONGC, GAIL and Oil India.
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In a joint statement, the associations said: "The participants expressed concern over the delay in constitution of the 4th PRC by the Department of Public Enterprises (DPE), despite the next wage revision becoming due from 1 January 2027."
The leaders said the forthcoming pay revision "is expected to impact nearly 20 lakh employees and pensioners associated with CPSEs across the country," and stressed the need for timely constitution of the PRC "to facilitate meaningful stakeholder consultations and smooth implementation of the revised pay structure."
During the deliberations, special focus was given to strengthening retiral and post-retirement benefits, particularly comprehensive medical coverage for serving and retired employees in view of rising healthcare costs.
The statement also flagged concerns over "the existing profitability-linked affordability clause, which often subjects employees to factors beyond their control such as regulatory interventions, market fluctuations and geopolitical developments."
The associations further advocated for "a more equitable and transparent Performance Related Pay (PRP) framework, improved fitment benefits to ensure real wage growth, revision of pay scales and annual increments to maintain competitiveness with the private sector, and enhanced social security measures for employees."
The participants unanimously resolved to continue coordinated engagement on issues concerning CPSE executives and to work collectively towards "a fair, progressive and sustainable framework" under the 4th PRC. They underscored the critical role played by energy sector professionals in safeguarding the nation's energy security and supporting economic growth.
The meeting concluded with a shared commitment among all participating associations to pursue a common platform for addressing executive welfare and pay revision matters ahead of the constitution of the 4th PRC.
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Dr Ajay Sharma of the Indian Oil Officers' Association said such meetings of oil PSU associations would now be held regularly, and that a joint letter from the collective of oil PSU associations would be sent to the government seeking early constitution of the 4th Pay Revision Committee and early finalisation of its recommendations, with the pay revision due from January 1, 2027.
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