Competitive pay for CCI brass may have to wait

NEW DELHI: The brass at the Competition Commission of India (CCI) would get the highest pay scale existing for civil servants, but they may have to wait for a more attractive pay packet which other regulators such as SEBI offer.

The government has decided to offer the chairman and members of CCI a pay scale similar to a secretary to the government of India.

The ministry of corporate affairs wanted to offer a handsome package that would help in attracting the best talent available in the country, but the finance ministry had some reservations. The sixth pay commission had also recommended a compensation to CCI top brass that reflects the market reality. Sources said the scales now offered are expected to be revised once the pay commission recommendations are approved.

With the government attributing anti-competitive and cartel-like behaviour in certain sectors to the sharp rise in inflation to a three-year and-a-half peak, the idea was to give CCI a team of experts competent to crack complex market manipulations. The government wants to operationalise the panel this year itself.

Sources said the finance ministry���s apparent disapproval of better compensation packages for members of CCI was more in the form of an opinion and will not interfere in the process of selecting experts for the panel. According to the advertisement issued by the ministry of corporate affairs, the pay scale of the members including the chairperson of CCI would be Rs 26,000 plus allowances.

The pay commission had demanded that specialised institutions like Securities and Exchange Board of India (Sebi), Insurance Regulatory Development Authority (Irda), CCI and the Central Electricity Regulatory Commission (CERC) should be given a better pay scale for the specialised functions they perform.