State-owned National Mineral Development Corporation (NMDC) has approved a wage settlement agreement that will increase pay for its 5,000 non-executives by up to Rs. 12,000 per month for each workman. The financial implication of the revision was estimated to be around Rs 65 crore per year.
The ninth tripartite wage settlement for a period of 5 years with effect from January 1, 2012 was concluded between the management of the company and All India NMDC Workers’ Federation before B K Sanwariya, Chief Labour Commissioner (Central), New Delhi.
The settlement has been widely acclaimed by the workmen of the company. Both the parties have also approved to increase production level of the company to 32 million tonnes per annum (MTPA) from the present production level of around 30 MTPA.
