19 August :The Union Minister of Shipping, Road Transport and Highways, Thiru T.R. Baalu has accorded approval for the payment of performance related incentive for employees of Dredging Corporation of India Ltd., a schedule ‘B’ Miniratna category-I PSU under the administrative control of the Ministry.
The approval has been accorded for payment of such incentive for four years with a retrospective effect from the financial year 2003-04 to 2006-07 and each employee will be benefited by about Rs. 45,000/- per year on an average.
With this approval, about 400 shore based employee of Dredging Corporation India Ltd. will be benefited. It is hoped that the step to give performance related incentive which gives adequate attractive compensation structure, will boost the morale of the employees to great extent.
Dredging Corporation of India Ltd. has been gradually increasing its turnover and profit earning since its inception. Payment of pay scales, perquisites and other similar benefits are being paid from internal resources of the Company and being regulated as per the Department of Public Enterprises (DPE) guidelines.