Another scheme of CFO
–Pocketing salary/perks top up
Unfortunately, professional dishonesty has plagued virtually every Pakistani
organization especially public sector organizations, where PIA is no exception.
The corporation, already on its knees, is being weakened by the termites from
within. The individuals who have been vested upon the duties of the management
and are responsible for steering the organization are solely taking and getting
the decision done by the competent apex forums as per their ill wishes suited to
their personal gains rather than the interest of the corporation and deceive the
decision makers, i.e. management including Board Members.
One such matter of obtaining long terms benefit by fooling the Board, is getting
approval from the Board of Directors for enhancement of the Qualification
allowance which is currently Rs. 30, 000 (all accounting qualification other
than CA), 45,0000 (Pakistan Based CA) & 60,000 ( Only for Foreign qualified CA)
per month on basis of prescribed accountancy qualifications. The new proposed
formula is structured in a format that is benefiting the special individuals of
Finance ONLY. It is strange that the new proposed structure is on the basis of
Pay Group levels rather than the number of qualifications/skills obtained. Learn
& Earn concept is internationally accepted practice, where employees are
rewarded on the basis of self development and on the basis of acquiring
additional advance qualifications in their respective fields. The proposal
apparently seems routine and normal matter, but if a prudent person analyzes the
proposal, it elaborates that the bigger pie goes to the greedy top Management of
Finance (CFO & General Managers), who finds a way to top up their salary through
this means by deceiving the management.
Is this fair:
Pay groups Proposed
per month
(A) Difference with existing structure
(B) per annum impact
(AX12)
V/VI 30,000 30,000 360,000
VII 50,000 20,000 600,000
VIII 75,000 45,000 900,000
IX 100,000 70,000 1,200,000
X 150,000 120,000 1,800,000
SPL (CFO) 190,000 160,000 2,280,000
Now the list of the top beneficiaries
Sr. Name Designation Current take away Revised Rate
Benefit/month
1 Nayyar Hayat CFO 30,000 190,000
2 Faisal Raza GM REVENUE 30,000 150,000
3 Waqar Siddiqui GM ACCOUTING 45,000 150,000
4 Jawed Mansha CIA 30,000 150,000
5 Sajjad ali GM BUDGET 60,000 100,000
7 Asif zia DGM REVENUE 30,000 100,000
8 Kashif bin Munir DGM ACCOUTING 45,000 100,000
Sir, it is to state that PIA is a versatile organization where variety of skills
are applicable in all disciplines, marketing, procurement & supply chain,
engineering, information technology, food services, safety & quality assurance
etc are grossly neglected from financial benefits. Even PHDs, M. Phil and other
qualifications are grossly ignored.
Amazingly, the advocacy for obtaining approval from the Board by the
representative of Finance leadership is that the competent employees are leaving
the organization and to retain them it is the only option available to raise the
amount of allowance- For God sake, people are leaving the organization because
the very respectable CFOs and Directors are not playing their role for the
betterment of the organization and for all employee, rather they are only
focusing for ways and mean of fill their own big bellies and none of the
professional has left the organization on this basis.
There are lot of other competent individuals who are working in this
organization and are deprived off their due benefits and such actions/approvals
from the management / Board will result in dissatisfaction and lower the moral
of the dishearten employees who are committing their duties honestly
It is very strange that middle level management/officers working in various
trade and filthy rich or they don’t need any salary revisions where at the same
time time people in staff cadre are enjoying the revisions in salaries or the
top management find a way to top up their take away through other means. Sir,
please look into it with an honest judgmental mind and look at a bigger picture
of the whole organization, where M.Phil, Phds and other international
qualification holders are working rewardlessely under the same roof. Please do
justice in rewarding employees since all are working for the organization in
their separate capacities rather only one department individuals are rewarded
who are already at the premium by taking additional benefits, which are at a
minimum of 30,000Rs/month in the name of proficiency pays.