The Hindu Business Line : Oil PSU officers drop strike plan

Following an appeal from the Prime Minister, Dr Manmohan Singh, and an assurance that the Ministry of Petroleum and Natural Gas would look into their demands, the officers of the 12 state-owned oil companies decided to withdraw their proposed indefinite strike well past mid-night on Monday.

Unanimous decision

"The decision to call off the strike was unanimous. The Prime Minister has agreed to constitute a pay panel to look into our demands. Besides, the Petroleum Ministry has agreed to release arrears of 5 per cent of distributable profits. A mechanism is also being devised to pay annual increments or compensation in lieu of annual increments," said the Convenor of the Oil Sector Officers' Association, Mr Ashok Singh.

Following the decision to withdraw the strike, the officers had two rounds of meetings with the Union Oil and Petroleum Minister, Mr Murli Deora, apart from a meeting with the Union Minister for Heavy Industries and Public Enterprises, Mr Santosh Mohan Deb.

The main demand of the striking officers included a five-year periodicity of wage revision, 100 per cent neutralisation of dearness allowance and immediate release of additional stagnant increments.

Officers from Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL), IOCL, BPCL, IBP, GAIL and EIL, among others, were to take part in the strike.