Salary hike for GSPC Gas staff

Vol 17, PW 5 (03 Oct 13) News in Brief

GSPC’s takeover of former BG gas retailer Gujarat Gas on June 12 this year has led to a welcome bonanza for the employees of its GSPC Gas retail arm.

PETROWATCH learns GSPC Gas, which supplies over 4.3m cm/d of piped gas and CNG across Gujarat, will hike the salaries of about 300 employees from between 15% to 30% to bring them in line with Gujarat Gas, where employees are the highest paid in the retail gas sector. This salary hike won’t be cheap, and is likely to cost GSPC Gas an additional Rs15cr ($2.4m) every year.

Still unclear is when the increase will be implemented or if GSPC Gas will also increase perks like 50% reimbursements for home loans. Some at GSPC Gas think their salaries should be raised with backdated effect from April 1 this year.

Last year GSPC Gas hired US-based HR consultant Mercer to carry out a study on salaries offered at Gujarat Gas and rework salary structures at GSPC Gas accordingly.