Wage revision pact for steel workers

By Our Special Correspondent

NEW DELHI, JULY 23. The National Joint Committee for the steel industry today concluded an agreement for revision of wage structure of workers of the Steel Authority of India Limited (SAIL) and the Tata Steel. The agreement will benefit about 1.6 lakh workers.

The agreement provides for minimum wages of Rs. 4,000 at the all- India consumer price index 1,708. It gives revised rates of increment ranging from Rs. 80 in the lowest payscale (S- 1) to Rs. 200 in the highest scale (S-10). Under the agreement, the steel workers will receive a guaranteed benefit calculated at the rate of 20 per cent of their pre-revised basic pay on December 31, 1996. The agreement also assures payment of two increments from April 1, 2001, as well as an additional amount equal to one increment from April 1, 2002.

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Section  : Business
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