NMDC settles wages for non-executives

5,000 workmen of the iron ore miner to be benefited by this wage revision. Financial implication of the revision was estimated to be around Rs 65 crore a year

State-owned iron ore miner NMDC today approved a wage settlement pact that will hike pay for its 5,000 non-executives by up to Rs 12,000 a month.

"The 9th tripartite wage settlement for a period of five years with effect from January 1, 2012 was concluded between the management of NMDC and All India NMDC Workers' Federation before B K Sanwariya, Chief Labour Commissioner (Central), New Delhi," the company said in a statement.

The financial implication of the revision was estimated to be around Rs 65 crore a year, it said.

"Around 5,000 workmen of NMDC will be benefited by this wage revision. There will be an average increase of Rs 10,000 - to Rs 12,000 per month for each workman," the company said.

Both the parties have also agreed to increase production level of the company to 32 million tonnes per annum (MTPA) from the present production level of around 30 MTPA.

"The settlement has been widely acclaimed by the workmen of NMDC," the company said.

The meeting was attended by All India NMDC Workers' Federation's President Gurudas Das Gupta and NMDC Chairman C S Verma among others.