Thaindian News

Kolkata, Jan 13 (IANS) State-run Coal India Limited (CIL), the largest coal producer in the world, has “almost” arrived at an agreement with its labour unions for a 25 percent wage hike of, a top company official said Friday.

“An agreement is almost finalised between the CIL management and the unions. The wage hike would be around 25 percent,” the official said.

“Certain issues are left and will be finalised on Jan 27-28,” he said.

The joint bipartite consultative committee (JBCC) meeting is scheduled to be held in the city on Jan 27-28.

According to the official, the new wages, when implemented, will increase the company’s annual wage bill by about Rs.4,000 crore.

“The new wages will be introduced with effect from July 1, 2011, for a period of five years,” another official of the coal producer informed.

CIL had enhanced salaries by 24 percent in the previous five-year agreement with the unions.

The management of the Maharatna company has been in negotiations with its five labour unions for several months.

All India Coal Workers Federation, one of the five recognised labour unions of the state-run company, however, said it would agree with the management for a 25 percent wage hike only if the workers got 50 percent hike in perks.

“The final agreement has not been signed. We will agree to the 25 percent wage hike only if we get 50 percent hike in perks,” All India Coal Workers Federation general secretary Jibon Roy said.