Coal India Employees wage pact to be signed on 24th January

Coal India may be forced to to raise prices next year to partially meet the increased wage bill.

 The Govt. will sign a new wage pact with Coal India employees on 24^th January.Coal India has more than five lakh non executive employees. Under the new wage agreement, the workmen will get 24% pay hike. As per the eighth national wage settlement for Coal India employees, they  will have a retrospective effect, - from July 2006 for workmen and January 2007 for officers.

 According to Union minister of state for coal Santosh Bagrodia, the revised wages will put an additional burden of Rs 5000 crores on Coal India.