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Coal India Executives Threaten Strike Over Pay Conflict with Non-Executive Employees

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Coal India Executives Threaten Strike Over Pay Conflict with Non-Executive Employees

Posted on : 26-06-2023 | Author : Press Trust of India

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A group of executives from Coal India Ltd has threatened to go on strike unless a pay conflict with non-executive employees is resolved. The Coal Ministry has approved a wage revision agreement for non-executive employees, which the executives claim will result in a disparity in pay. The All-India Association of Coal Executives (AIACE) has demanded that executive employees be compensated with personal pay packages to prevent their salaries from falling below that of the workers. The AIACE has requested immediate action from Coal India to address this issue, stating that if the conflict is not resolved by September 30, 2023, executives may resort to agitation, including a strike if necessary. The Coal Ministry has confirmed the wage revision agreement for non-executive employees, which includes a 19% minimum guaranteed benefit from July 1, 2021, and a 25% increase in allowances. The agreement will benefit approximately 2.81 lakh non-executive employees of Coal India Ltd and Singareni Collieries Company Limited. Coal India has allocated Rs 9,252.24 crore for the wage provisions from July 1, 2021, to March 31, 2023. The company's net profit for the fourth quarter of FY 2023 declined by 18% due to increased provisions for wages.