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3 RD ROUND DISCUSSIONS WITH UNIONS/ASSOCIATIONS OF GIPSA MEMBER COMPANIES ON 30.03.2009 AT

3 RD ROUND DISCUSSIONS WITH UNIONS/ASSOCIATIONS OF GIPSA MEMBER COMPANIES ON 30.03.2009 AT HYDERABAD. PRESENTATION MADE ON 28.11.2008. Sharing of Financials, Constraints & Projections. Inviting suggestions & comments for review & re-look.

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3 RD ROUND DISCUSSIONS WITH UNIONS/ASSOCIATIONS OF GIPSA MEMBER COMPANIES ON 30.03.2009 AT

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  1. 3RD ROUND DISCUSSIONS WITH UNIONS/ASSOCIATIONS OF GIPSA MEMBER COMPANIES ON 30.03.2009 AT HYDERABAD GIPSA

  2. PRESENTATION MADE ON 28.11.2008 • Sharing of Financials, Constraints & Projections. • Inviting suggestions & comments for review & re-look. • Call for evolving a Joint Agenda – Common Path. • Commendable response by the Unions. • Commitments of cooperation/support. GIPSA

  3. 2ND ROUND DISCUSSIONS FROM 3RD TO 6TH FEB., 2009 • First step taken by Management on common path • Submission of a draft Joint Agenda • Mixed response from Unions for walking along • Positive and constructive responses from the Unions taken note of • Review and re-look of projections GIPSA

  4. ISSUES FOR REVIEW/RE-LOOK • GDPI Growth Projection @ 5.68%? • ME Growth Projection @ 9.1%? • Factoring in of SVRS amortization amount in 2007-08 Wage Bill Base? • Factoring in of Rationalization of manpower? • Factoring in of Inv. Income from Policyholders Fund in Revenue A/c ? • Additional External opportunities • Impact of internal support/motivation GIPSA

  5. RESULT OF REVIEW / RE-LOOK • GDPI Growth to be projected @7% in place of 5.68% • ME Growth to be projected @5% in place of 9.1% • Base Wage Bill for 2007-08 to be discounted by Rs. 154 Crs.(SVRS Amort.) • Inv. Income from Policyholders Fund to be factored in Revenue A/C. • Impact of internal support/motivation kept in view. GIPSA

  6. REVISED GAP BETWEEN “HAVE” & “WANT TO HAVE” – 1 GIPSA

  7. REVISED GAP BETWEEN “HAVE” & “WANT TO HAVE” – 2 GIPSA

  8. REVISED GAP BETWEEN “HAVE” & “WANT TO HAVE” – 3 GIPSA

  9. REVISED GAP BETWEEN “HAVE” & “WANT TO HAVE” – 4 GIPSA

  10. Analysis of Revised Working Gap between “Have” and “want to Have” comes down as projected on 31.03.13 from 40C angle, - • For 5% Wage Revision, from Rs.7,300 crs. to NIL • For 10% Wage Revision, from Rs.8,400 crs. to Rs. 254 crs. • For 15% Wage Revision, from Rs. 9,500 crs. to Rs. 1,135 crs. • For 20% Wage Revision, from Rs. 10,600 crs. to Rs. 2,015 crs. GIPSA

  11. Further hurdles…… • Overall operational results still a matter of concern. • Inv. Income projections assuming greater uncertainty. • Business Procurement Cost continues to rise. • So does the Incurred claims amount. • Combined outgo continues to mount. • Leaving less and less for increased expenditure on other things including Wages. GIPSA

  12. Best possible projections of operational results, as on date GIPSA

  13. Then,what ?... • Faith and hope are substance of life • We have faith in you • We have hope in you • We know you will not let us down • We, too, will never let you down • With hope and faith in you, we propose the maximum possible Wage Revision for our people under the current constraints. GIPSA

  14. Wage Revision Proposal (Subject to Government’s approval) • Wage Bill as on 01.08.07 : Rs. 2,569 crs. (excluding SVRS Amort.) • Additional expenditure proposed on Wage Bill as on 01.08.07 : Rs. 308.28 crs. • Overall percentage rise : 12% • Average Per capita (p.c) rise p.a. : Rs.44,100/- • Average p.c rise as on 01.08.02 : Rs.32,477/- • Proposed rise higher than last rise by : 36% • The proposed rise is subject to the Organizational Agenda as floated on 03.02.09 GIPSA

  15. View of 40C - Projections post proposed Wage Rise GIPSA

  16. POSSIBLE PAY SCALES WITH 12% REVISION GIPSA

  17. POSSIBLE PAY SCALES WITH 12% REVISION GIPSA

  18. Allocation of proposed rise into various components of Wages • The overall Wage rise of 12% shall be distributed into various components of Wage (including Basic Pay Scales) once a broad understanding is reached on the overall proposal. • Response of the Unions/Associations is invited. GIPSA

  19. THANK YOU GIPSA

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