IESCO BOD Approves Employees and Pensioners Adhoc Relief Allowance and Pension Increase Effective July 2024-Notification

No. 848-50/CS/BoD                                                                                                              Dated 13.08.2024

Subject:               DECISIONS OF 233^RD MEETING OF THE BOARD OF DIRECTORS HELD ON AUGUST 09. 2024

1.            Following are the relevant extracts from the minutes of 233^rd BoD meeting related to your office.

AGENDA ITEM No. 07

ADOPTION OF O.MS. OF FINANCE DIVISION (REGULATION WING), GOP REGARDING GRANT OF ADHOC RELIEF ALLOWANCE-2024 TO THE EMPLOYEES OF IESCO AND INCREASE IN PENSION TO PENSIONERS OF IESCO

The Board took note of the working paper. In response to a question, the Director General (FIR) informed the Board that the regular employees of the company are in BPS grades, and IESCO follows the same BPS grades as applicable to government employees. The Board discussed the matter and approved the adoption of the Off. Memorandums (O.Ms.) issued by the Finance Division (Regulation Wing) Government of Pakistan, which grant Adhoc Relief Allowance-2024 and an increase in pensions to Government employees. This adoption will make these benefits applicable to IESCO employees and pensioners, effective from 1^st July 2024

RESOLUTION^. 233-BOD-R03

The Board of Directors resolved to approve the adoption of Office Memorandums (O.Ms.) issued by the Finance Division (Regulation Wing), Government of Pakistan, which grant Adhoc Relief Allowance ­2024 to Government employees and an increase in pensions to Government pensioners This adoption will extend these benefits to IESCO employees and pensioners, effective from 1^st  July 2024,

Sr. No.	Allowances	Finance Division (Regulation Wing) O.Ms. No. and Date
1.	Grant of Ad-hoc Relief Allowance-2024 to : BPS-17 to 22 @ 20% of Running Basic PayBPS-01 to 16 @ 25% of Running Basic Pay	F. No. 1(1)Imp/2024-254 dated 10.07.2024
2.	Grant of increase in Pension to Pensioners @ 15% of net Pension w.e.f.  1st July, 2024	F. No. 4(1)-Reg.6//2023 dated 10.07.2024

2.                   It is further requested to send the status of actionable items to this office accordingly.

Company Secretary IESCO Islamabad