AI puts on hold move to scrap PLI

New Delhi: State carrier Air India has put on hold its move to withdraw performance-linked incentives (PLI) of its top officials following strong protest from executive directors. In an e-mail to senior officials, company executive director (finance) S Venkat has said that a decision to cut part of the salaries would now be taken only after due consultation and approval from the board of directors.
“The finance department had written to top officials saying the company had proposed to cut PLI as suggested by the civil aviation ministry. It has now clarified that any decision on PLI would be taken only after discussion and approval by the board,” a senior company official told ET.
As per the official, one of the executive directors (EDs) protested at the management’s move to stop payment of PLI on November 10 following which many other directors joined him. “The ED, in fact, wrote a mail disagreeing to the company’s decision and marked a copy to everybody,” he said.
11/11/09 Nirbhay Kumar/Economic Times

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Categories: NACIL Nov 2009