BL reported that the talks for revision of wages for Visakhapatnam Steel Plant failed on Thursday with the unions rejecting the management’s insistence on submission of a letter of support for 24% minimum guaranteed benefit.

Following adjournment of the meeting held in New Delhi, the National Joint Committee for Steel Industries decided to hold next round of talks on November 29.

Mr D. Adinarayana president of Visakha Steel Workers Union, the recognised union of VSP, said they expressed their protest over inordinate delay in wage revision by observing strike for a day on November 4 and threatened to launch an indefinite cease work agitation if their demands were not conceded by November 29.

During the discussions last week, the management had agreed for 78.2% DA merger and wage revision once in five years with willingness for 19% MGB. With the unions insisting on 28% MGB, the talks were deadlocked.

(Sourced from BL)