Chennai:
After the tripartite talks between the representatives of trade unions
and the NLC management over the wage revision settlement ended in
failure, the Union government has assured that it will intervene to
break the deadlock.
Union minister of State for Labour and Employment Bandaru Dattatreya
said on Thursday that he has met one of the trade union leaders M
Shanmugham and he has apprised him of the situation.
The minister told reporters on the sidelines of Employees Federation
of Southern India (EFSI)'s annual conference here that the trade union
leader told him that 23 round of discussions had taken place between
the management and the representatives of trade unions and the
management has not come forward to revise the wage settlement.
“Last time the wage revision was more and this time they are not
increasing at all. After my discussion with Shanmugham, I informed my
Central chief labour commissioner to take stock of the situation and
speed up the consultation process and see that some settlement is
reached,” said Dattatreya.
The minister said that if the settlement is not reached then he will
hold discussion with Minister of Power and New and Renewable Energy
Sources Piyush Goyal to resolve the issue.
“Since NLC is a public sector company, We will ensure that the workers
get their right,” said Dattatreya.
His statement comes in the wake of Chief Minister J Jayalalithaa
seeking Prime Minister Narendra Modi’s intervention to end the stir at
the earliest in the interest of industrial climate of the state and
also in ensuring uninterrupted power supply.
To a query over 11 Central Trade Unions (CTUs) planning to go on
nationwide strike on September 2, the minister said that he has not
yet received the notice though he is aware of their charter of demands
through media.
“Already a tripartite consultation is on. On July 19, Union Minister
of Finance Arun Jaitley, Minister of State for Petroleum and Natural
Gas Dharmendra Pradhan and Piyush goel were in discussion. They are
sorting out some of the issues,” he said.
The minister also defended the move to invest 5 per cent of its
incremental income in the equity market in a phased manner. “This will
get us more interest rates. World over all the employee provident fund
investments are in the equity form,” the minister said.
He said that Finance Minister Arun Jaitley was instrumental in guiding
his ministry to either go for five or 15 per cent investment in the
equity markets. “By end of 2016 March we will go in a phased manner
starting with one per cent and will invest upto 6,000 crore through
our portfolio managers,” the minister said.
“By the end of 2016, based upon the results of the equity decision, we
may continue with a good decision,” the minister added
After the tripartite talks between the representatives of trade unions
and the NLC management over the wage revision settlement ended in
failure, the Union government has assured that it will intervene to
break the deadlock.
Union minister of State for Labour and Employment Bandaru Dattatreya
said on Thursday that he has met one of the trade union leaders M
Shanmugham and he has apprised him of the situation.
The minister told reporters on the sidelines of Employees Federation
of Southern India (EFSI)'s annual conference here that the trade union
leader told him that 23 round of discussions had taken place between
the management and the representatives of trade unions and the
management has not come forward to revise the wage settlement.
“Last time the wage revision was more and this time they are not
increasing at all. After my discussion with Shanmugham, I informed my
Central chief labour commissioner to take stock of the situation and
speed up the consultation process and see that some settlement is
reached,” said Dattatreya.
The minister said that if the settlement is not reached then he will
hold discussion with Minister of Power and New and Renewable Energy
Sources Piyush Goyal to resolve the issue.
“Since NLC is a public sector company, We will ensure that the workers
get their right,” said Dattatreya.
His statement comes in the wake of Chief Minister J Jayalalithaa
seeking Prime Minister Narendra Modi’s intervention to end the stir at
the earliest in the interest of industrial climate of the state and
also in ensuring uninterrupted power supply.
To a query over 11 Central Trade Unions (CTUs) planning to go on
nationwide strike on September 2, the minister said that he has not
yet received the notice though he is aware of their charter of demands
through media.
“Already a tripartite consultation is on. On July 19, Union Minister
of Finance Arun Jaitley, Minister of State for Petroleum and Natural
Gas Dharmendra Pradhan and Piyush goel were in discussion. They are
sorting out some of the issues,” he said.
The minister also defended the move to invest 5 per cent of its
incremental income in the equity market in a phased manner. “This will
get us more interest rates. World over all the employee provident fund
investments are in the equity form,” the minister said.
He said that Finance Minister Arun Jaitley was instrumental in guiding
his ministry to either go for five or 15 per cent investment in the
equity markets. “By end of 2016 March we will go in a phased manner
starting with one per cent and will invest upto 6,000 crore through
our portfolio managers,” the minister said.
“By the end of 2016, based upon the results of the equity decision, we
may continue with a good decision,” the minister added
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