Labour unions of major ports and their managements have resolved the issue of wage revision, thereby averting the proposed strike from midnight of 4 January.
The union minister of shipping has intervened to end the deadlock on various issues, including the unions' demands on revision of wages of Class III & IV employees, which is due from 1 January 2007.
The managements and major federations of port employees have reached a 5-year wage settlement.
"The settlement will benefit about 60,000 port employees and workers and will be effective from 1 January 2007," a government release said.
"The employees will get a fitment benefit of 23 per cent and the arrears of hike in their pay and allowances will be paid with effect from 1 January 2007. It will add an extra burden of about Rs450 crore per year on the major ports," the release added.
While the port and dock workers welcomed the resolution of the issue of wage revision to their satisfaction, the managements of the ports asked workers to improve efficiency and productivity to offset the extra burden on the ports.