The September 2 strike may or may not yield results, but over three lakh non-executive employees of Coal India are poised to benefit from a significant decision by the public sector undertaking. The company is the first to initiate salary revision moves after the hike announced for Central government staff and pensioners by the 7th Central Pay Commission.
To consider salary revision, the management has appointed a panel, according to a communication by the Kolkata-based company.
The 10th Bipartite Committee for the Coal Industry (JBCCI) would explore revising salaries of employees including those employed in its eight subsidiaries as decided on Wednesday and conveyed through a statement on Thursday, reported IANS.
Coal India and its subsidiaries have about 3.2 lakh employees, according to the company's annual report for 2015-16. The JBCCI will have 18 representatives each from trade unions and the management. Trade union members on board the committee will be from CITU, AITUC, HMS, BMS and INTUC.
Read: Coal India workers to join September 2 strike
In a regulatory filing to the Bombay Stock Exchange (BSE) on Thursday, the company informed that production at 32.43 million tonnes in August was 79 per cent of the target (40.89 million tonnes).
Offtake was 36.72 million tonnes, marking an achievement of 83 per cent against the target of 44.51 million tonnes. The company will be declaring its first quarter (Q1) results on Sept. 9, 2016.
Shares of Coal India have also dropped 1.88 per cent to close at Rs. 331.70 on the BSE.
The strike call for Friday (September 2) lists many demands that include hike in minimum monthly salary to Rs. 18,000, halt to disinvestment of public sector undertakings, increased gratuity, discontinuance of appointments on contractual basis employment regularisation of those hired on contract basis.
The minimum monthly salary of Rs. 18,000 was suggested by the 7th Central Pay Commission and accepted by the Central government. The same has become a benchmark for employees of public sector undertakings.
The Central government is yet to take a call on hike in allowances as suggested by the pay panel, pending an analysis of the same by a finance ministry-appointed panel, which is expected to submit its report by November.
