Calcutta, Feb. 27: About 24,000 executives of state-run Coal India and Singareni Collieries Company Ltd plan to go on a three-day strike from March 13 on issues related to performance-linked pay and implementation of the new pension scheme.
The Coal Mines Officer’s Association of India (CMOAI) today said it might go on an indefinite stir if the demands were not met after the three-day strike.
“All the maharatna PSUs, except Coal India, have already been given order for the payment of performance-related pay by their ministries concerned. We are constrained to communicate to you our strike notice, with effect from March 13, 2014, to meet our genuine and justified demands,” the association has said in a letter to CIL.
“We appeal to you and all concerned to take immediate remedial measures so that the long pending issues are settled expeditiously without any further delay. In case the demands are not fulfiled, latest by March 12, 2014, this letter may be treated as our final notice for strike,” it said.
P. K. Singh, secretary-general of the association, told The Telegraph that they had been pressing the management of the two PSUs for a long time to implement the schemes.
“If Coal India can declare a dividend of Rs 19,000 crore to the Centre, why can’t it consider our recommendations which would benefit several employees?” he said.
The association has demanded the finalisation and payment of performance related pay, pending since 2007, immediate implementation of the new pension scheme and the removal of pay anomaly across grades.
Earlier, the department of public enterprises had objected to the coal ministry’s proposal on performance related pay for the executives of Coal India’s subsidiaries from the consolidated account of the PSU, stating other companies may seek similar dispensation.
According to the guidelines of the department of public enterprises, in the absence of sufficient profit before tax, loss-making PSUs are not allowed to distribute performance-related pay nor can they provide it from the consolidated account of the holding company.
However, the coal ministry had sought permission to allow CIL to determine the corpus of the pay due since 2007 based on its consolidated account and not on the individual accounts of the subsidiaries.
In January, Coal India Ltd had declared an interim dividend of Rs 29 per share, amounting to Rs 18,317 crore, or a record 290 per cent, for 2013-14, helping the Centre to garner about Rs 16,485 crore.