CIL weighs salary hike for employees, to cost firm Rs 800 cr

State-owned Coal India is considering hiking salary of its executives, which may cost the company about Rs 800 crore.

“The salary revision of CIL employees is under consideration and it will be done after observing due formalities,” a company official privy to the development said.

The pay revision of nearly 18,000 executives of the PSU is due from January 1, 2017, the official said.

“The annual impact (from the proposed hike) is likely to to be to the tune of about Rs 800 crore,” the official said, adding that the board is yet to approve the hike of the salaries of the executives.

CIL had last month signed a wage pact with workers' unions for five years which, the PSU said, would have an estimated impact of Rs 5,667 crore annually on the miner.

Calling the signing of the wage agreement “a really historic day”, Coal India CMD Gopal Singh had said.

Coal India Ltd