ISLAMABAD: The Board of Private Power and Infrastructure Board (PPIB) has increased basic salary of Managing Director PPIB, Shah Jahan Mirza by 17 percent but withdrew some existing facilities.
Well informed sources told Business Recorder that as the agenda was tabled for revision in salary package for consideration of the Board, MD PPIB, who is also CEO of Alternative Energy Development Board (AEDB) left the meeting room.
Director General, Human Resource, PPIB, Khalid Umar apprised that after approval of the Federal Cabinet on January 27, 2023, Shah Jahan Mirza was appointed as Managing Director PPIB with effect from January 27, 2023 for a period of three years. He narrated provisions of sub sections 1 & 4 of section-7 of the PPIB Act 2012, and previously approved remuneration whereby the Board of Directors authorized Chairman PPIB to fix the salary of MD PPIB within approved remuneration.
The Board deliberated on the proposal and approved it with following amendments: (i) minimum basic pay in the pay scale for MD will be Rs 900,000 instead of Rs 770,000; (ii) maximum basic pay will be Rs 1,600,000 instead of Rs 1,430,000; (iii) car buy out option will be deleted; (iv) hospitalisation will be “reimbursable for self, parents, spouse and dependent children on actual basis” instead of “annual Rs 1 million (self-administered)”; (v) club membership and annual fee of Rs 1.5 million will be deleted; and (vi) the Board decided that from date of current appointment i.e. January 27, 2023, MD PPIB will continue to draw same salary as he was receiving on expiry of previous tenure, subject to approved changes. Due to increase in maximum limit of pay scale, salary will increase on annual basis.
On a question from DG F&P PPIB about already paid club membership, the Board clarified that no further payment of club membership fee will be made from now onwards.
On a question from DG HR PPIB regarding 10-day gap between expiry date of previous tenure and current appointment date, the Board clarified that no payment for this gap will be made.
Copyright Business Recorder, 2023
Comments
Comments are closed.