Tag Archives: SAIL

Steel Workers’ Strike Against Strategic Sale

24 Wednesday May 2017

Posted by in PSU, TU News - India, Uncategorized

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The workers of the three units of Steel Authority of India Limited (SAIL) at Durgapur (W.Bengal), Salem (T.Nadu) and Bhadrawati (karnataka), went on strike on 11th April 2017 against the decision f the central government for the strategic sale of these units. SAIL is in the process of appointing Advisors , investment bankers, financial institutions etc. for the sale. The strike was jointly called by all the unions including CITU, AITUC, INTUC and HMS.

This sale of the asset of the nation is being implemented as part of the ‘privatisation policy of the government’. National assets are gifted to the corporates.

We fully support the struggle and extend our solidarity!

Another Disinvestment – 5% of SAIL for Disinvestment in January 2015

22 Monday Dec 2014

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Disinvestment process goes on. Within a few years all the assets of the people will be sold to the corporates and rich by the Government, who is only the manager. Now it is the turn of the SAIL, Steel Authority of India Limited, a good profit company.

5% of the shares, coming to  42.77 crores of shares  worth Rs.14,,900 crore will be disinvested. The present 68.94% shares of SAIL will come down to 63.94%.

Five Years Wage Agreement in SAIL w.e.f. 01-01-2012

03 Thursday Jul 2014

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Wage Agreement has been reached between the SAIL Management and the Unions on 2nd June 2014, which will be with retrospective effect from 01-01-2012. The last wage revision was in 2007 and the five year agreement is on vogue in SAIL. There will be 17% hike in basic pay and DA and 6% in perks. About 92,000 non-executive employees will benefit out of this agreement.
It is reported that last year the revenue of SAIL was Rs. 46,837 croes with a profit of Rs. 2,631 crores. The wage bill will be about rs. 9,594.03 crores, which is about 20% of the total income.
Congratulations to the SAIL workers and Unions for their achievement.