Representatives of four trade unions - CITU, AITUC, BMS and HMS -- and the Coal India chairman and other board members failed to reach concensus on wage hike. The trade unions sought minimum guaranteed benefits rise of 21 per cent along with seven per cent pension contributions and one per cent of post retirement medical benefit. But the management restricted themselves to about 15 per cent hike in minimum guaranteed benefits.
The Coal India profits are under severe pressure on account of growing wage provisions.
The CIL in the previous wage negotiations had said that it would incur an additional burden of Rs 6,500 crore per annum on account of 25 per cent increase in workers' wages. The All India Coal Workers Federation (CITU) general secretary D D Ramanandan said unions were not going to agree anything below 21 per cent minimum guaranteed benefits rise over the last agreement.
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