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Tuesday 18 October 2011

Employees unions of Coal India today withdrew their proposed three-day Strike

Employees unions of Coal India today withdrew their proposed three-day strike after the management agreed to give higher bonus, along with Rs 1,000 as Diwali gift. CIL has reached an agreement with workers Unions to pay a higher -- Rs 20,000 bonus to each worker instead of earlier announced Rs 17,000, besides Rs 1,000 as Diwali gift.The unions were demanding for a minimum bonus of Rs 23,500 per employee.
Coal India Chairman N C Jha said that higher bonus would result in Rs 144 crore additional burden on the company.The workers had gone on one-day strike on October 10, which resulted in production loss of around one million tonnes for CIL, causing it a revenue loss of about Rs 140 crore.
CIL has missed its half yearly production target by around 20 million tonnes at a time when shortage of coal is causing problems in power generation in many parts of the country.The threat of strike had come amid grim power situation in the country, as many plants of India's largest power generator NTPC are running below capacity due to the paucity of coal -- the key raw material for generating electricity.
Various states, including Delhi, Maharashtra, Karnataka and West Bengal, have seen power cuts for long hours in the past few days.At present, over 40 thermal power stations have coal stocks that is barely sufficient to meet the demand for about a week. As many as 29 projects have less than four days of coal reserves.

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