NS central government On Sunday, October 31, it announced that it will implement pay revision for employees of state-owned company – Manganese Ore India Limited or MOIL. Not only this, in another major decision, the Center has also said that it will give first bonus of Rs 28,000 to the employees of Manganese Ore India Limited. Diwali, which falls on November 4. The announcements were made by Road Transport and Highways Minister Nitin Gadkari and Union Steel Minister Ramchandra Prasad Singh during a function held in Nagpur on 31 October. The minister was addressing the audience at the inauguration. Second Vertical Shaft, Chikala Mine and various other facilities of Manganese Ore India Limited.
“In a major development, the approval for wage revision of MOIL workers was announced at a gala by Shri Nitin Gadkari, Hon’ble Minister of Road Transport & Highways and Shri Ram Chandra Prasad Singh, Hon’ble Steel Minister, Government of India on 31st October, 2021 function to be held in Nagpur,” the Press Information Bureau of India said in a release.
It further said that the pay revision was for a period of 10 years. Effective 1 August 2017 to 31 July 2027. This will benefit about 5,800 employees of Manganese Ore India Limited, the Center said.
“This pay revision is for a period of 10 years from 01.08.2017 to 31.07.2027, benefiting about 5,800 company employees. This is based on a Memorandum of Understanding signed between the Management of Manganese Ore India Limited i.e. MOIL Kamgar Sangathan (MKS) and the recognized union,” the PIB further mentioned in the press release.
According to the statement, the company announced that it would clear the dues in one go, which would have a financial impact of approximately Rs 218 crore for the period from August 1, 2017 to September 30. 2021.
“The total financial impact of the proposed wage revision will be around Rs 87 crore per annum. MOIL Limited has already made full provisions for this increment in the books of accounts,” the press release said.
The proposal also includes a fitment benefit of 20 per cent and allowances and benefits at the rate of 20 per cent. The Center has said that interim relief on 12 per cent basic and dearness allowance (DA) was given by MOIL from May 2019.
“The proposal includes a fitment benefit of 20 per cent and allowances/allowances at the rate of 20 per cent. Interim relief on 12 per cent of Basic and DA was given by the company with effect from May, 2019 (sic).”
Gadkari and Singh on Sunday inaugurated MOIL’s various facilities at Nagpur, including a second vertical shaft at Chikala Mine, hospitals at the company’s mine sites, an administrative building and a graduate trainee hostel in the mines. Singh congratulated the company’s consistent performance and “encouraged them to be prepared to achieve major milestones in the future”, the statement said.
Manganese Ore India Limited Details, The Company is a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel, Government of India. MOIL is the largest producer of manganese ore in the country and operates eleven mines in the states of Maharashtra and Madhya Pradesh. According to a statement from the Centre, MOIL holds 34 per cent of the country’s manganese ore reserves and is contributing 45 per cent of the domestic production.
“The company has an ambitious vision of nearly doubling its production to 25 lakh metric tonnes by FY 2024-25. MOIL is also exploring business opportunities in the state of Gujarat, Madhya Pradesh, Rajasthan and other regions of the state of Odisha,” the Center mentioned in the press release.
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