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Thursday, January 19, 2012

CIL not likely to hike prices after wage increase

Thursday, 19 Jan 2012

Reuters cited Mr Sriprakash Jaiswal coal minister as saying that State-run Coal India Limited is not expected to raise prices after it finalises a wage increase agreement with its workers later this month.

Coal India last week said it will sign a five-year agreement with workers unions to increase wages by 25%, adding about INR 40 billion to its annual wage bill.

(Sourced from Reuters)

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