21 August 2007 15:33 [Source: ICIS news]
MUMBAI (ICIS news)--Officials in ?xml:namespace>
More than 45,000 workers, managers and senior executives had gone on strike, demanding more than double their current pay and their perks to be tax-free.
“Whatever the government has offered on Monday night as an ad hoc payment has been considerably improved, so we have withdrawn the strike,” said Ashok Singh, convener of Oil Sector Officers' Association (OSOA).
The strike was called off, within hours of it beginning after the government reassured the OSOA that it would consider providing interim relief to the employees, a senior official at Indian Oil Corp (IOC) said.
The oil companies said there was likely to be no serious impact on production, refining and fuel supplies.
Reportedly, a senior official at the Indian oil ministry said that the government had agreed to raise an advance payment allowance to Indian rupees (Rs) 60,000-120,000 ($1,465/ €1,086) from Rs50,000-100,000.
Chennai Petrochemicals Limited (CPCL), a subsidiary of state-run IOC, said production remained unaffected.
“The companies would now have to work out the finer details of the settlement,” the IOC official said.
Meanwhile, Murli Deora, Minister for Petroleum & Natural Gas underlined the significance of the step of withdrawing the strike by OSOA as the same has spared the consumers and the country of the hardships.
“All steps should be taken by everyone concerned to avoid such situations,” Deora added.
Deora also assured the OSOA that the commitments made to the association would be fulfilled.
OSOA representatives said that they have called off their strike and would pursue the process of dialogue with the central government.
The central government also said that it is considering a recommendation from the Department of Public Enterprises to set up a pay revision committee for public sector enterprises employees.
($1 = Rs40.95/€1 = Rs55.22)
(Isha Jha also contributed to this article)
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