Coal news and updates

CIL may introduce performance-related pay proposal

December 10:  Coal India Ltd (CIL) may introduce performance-related payment (PRP) if a proposal to this effect is cleared by a Committee of Secretaries (CoS), an official release said.

"In a meeting held in October 9, 2013, it was agreed that the issue of PRP would be discussed further by the CoS after examination of the implications of Section 241 of the Indian Companies Act, 2013 as raised by the Department of Public Enterprises (DPE)," the release said.

The PRP proposal for executives of CIL had been earlier considered by the CoS, but the DPE, the administrative department for finalising the guidelines, had opposed the idea on the ground that the system will have wider consequences as other PSUs might ask for a similar dispensation.