Govt to rationalise fee being taken from PSEs Boards

November 21, 2013 1:43 AM

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ISLAMABAD - Finance Minister Senator Mohammad Ishaq Dar has decided to rationalise the fee of government servants nominated by the government on Boards of various Public Sector Enterprises (PSEs) and Corporate Entities.

The Finance Minster has decided that such government servants nominated by the government will only be permitted to retain an amount of Rs.600,000/- per annum received by him or her as fee on account of their participation in Board meetings. Any amount received over and above this amount from PSE’s or corporate bodies would have to be refunded and deposited in the National Treasury. This order shall be implemented with immediate effect.

The measure has been taken as a part of policy of the present government to enforce austerity in Public Sector Entities (PSEs) and maintain financial discipline by ensuring that government servants receive realistic fee for their contributions.

It would be pertinent to mention here that some government servants were earning huge amounts running into millions in lieu of fee paid to them for participation in Board meetings by Corporate Entities while others were members of more than one PSE, thus earning huge financial benefits.

The decision will rationalise the fee of government servants nominated by the government in various Boards.

Some of the prominent Public Sector Entities and corporate bodies where government has been nominating government officers on their boards among others include Pakistan Steel Mills, Pakistan Telecommunication Limited (PTCL), United Bank LTD, (UBL), Pak-Saudi Bank, Pak Libya Bank, Pak China Investment Company, Pak Kuwait Investment Company, Pak Brunei Investment Company, Saudi Pak Agricultural Company, Industrial Investment Company, Pak-Iran Investment Company, Pak-Oman Investment Company, Pak Libya Investment Company, Pakistan International Airlines Corporation, Karachi Electricity Supply Corporation, National Power Construction Company, National Electric Power Regulatory Authority, Private Power and Infrastructure Board Oil and Gas Regulatory Authority, Sui Southern Gas Company Limited, Sui Northern Gas Company Limited and State Life Insurance Corporation.

Source: nation.com.pk

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