Aiming to set an example of moderation in executive salaries, Reliance Industries chief Mukesh Ambani has decided to lower his pay package by nearly two-thirds to Rs. 15 crore for 2008-09, the company said on Thursday.

At the same time, Reliance Industries announced a new structure for salaries and remuneration of top executives wherein the pay would be capped, as against the prevailing system of commission linked to profits. Mr. Ambani’s package would be scaled down from over Rs. 44 crore in 2007-08 to Rs. 15 crore.

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