Islamabad Electric Supply Company Limited has issued the official order on 28th April, 2021 in connection with IESCO notification of disparity reduction allowance 2021. The further details are given below.
25% Disparity Reduction Allowance For IESCO Employees 2021
Decision of IESCO BOD, In Agenda Item No.201/1, Resolution:201-BOD-RO2, conveyed vide Company Secretary IESCO letter No.5643-49/CS/BOD, dt 27.4.2021.
IESCO Board of Directors, In Its 2014 Meeting held on April 26, 2021, is pleased to approve adoption of Finance Division 0.M. F.No.14(1)R-3/2021-90 dated 3rd March, 2021 for grant of Disparity Reduction Allowance @ 25% of Basic Pay of Basic Pay Scales-2017 w.e.f. 01.03.2021 to IESCO Employees in BPS 01-19, who have never been allowed additional allowance/allowances equal to or more than 100% of the basic pay (whether frozen or not) or performance allowance subject to the following conditions:
- This Allowance will not be admissible to those employees who are drawing additional allowance/allowances equal to or more than 100% of the basic pay(whether frozen or otherwise);
- This allowance will be frozen at the level drawn on 1 March 2021:
- This Allowance will be subject to Income Tax;
- This Allowance will be admissible during leave and entire period of L.P.R. except during extra ordinary leave;
- This Allowance will not be treated as part of emoluments for the purpose of calculation of Pension/Gratuity and recovery of House Rent;
- This Allowance will not be admissible to the employees during the tenure of their posting/deputation abroad;
- This Allowance will be admissible to the employees on their repatriation from posting/deputation abroad at the rate and amount which would have been admissible to them, had they not been posted abroad;
- This Allowance will be admissible during the period of suspension;
- The term “Basic Pay” will also include the amount of Personal Pay granted on account of annual increment (s) beyond the maximum of the existing pay scales.