Coal India may hike workers' wages by 25 per cent

State-run Coal India Ltd is expected to provide a 25 per cent increase in wages to its over 3.6 lakh workers, which would raise its annual wage bill by over Rs4,000 crore.

CIL, the world's largest coal miner, will sign a five-year wage pact with its five recognised workers' unions representing 3,60,000 workers, a senior executive said.

The move comes close on the heels of CIL effecting an across-the-board hike in coal prices through a shift in the coal grading and pricing formula.

CIL said the management has reached a broad consensus with the unions on increasing workers' salaries by 25 per cent in the forthcoming National Coal Wage Agreement (NCWA)-IX.

The new wage rates will be effective for a five-year period beginning 1 July 2011.

The agreement is expected to be signed at the next meeting of the joint bipartite consultative committee (JBCC) scheduled to be held in Kolkata on 27-28 January.