Wednesday, July 27, 2016

RPCs eye signing productivity-based Collective Agreement; Estate workers to receive interim allowance

Based on the enterprise that a productivity-based wage agreement are going to be signed by August 2016 for the remuneration of estate employees, the Regional Plantations corporations (RPCs) on weekday (26th July) signed a loan agreement with the country Tea Board to get the funds provided by the govt for the payment of associate interim allowance to employees of the RPCs.

The funds were provided through State Banks to the Tea Board so as to facilitate the payment of Rs. 100/- per day interim allowance to estate employees for 2 months (June and July 2016).

Accordingly, the Tea Board can pay out the funds of Rs. 800 million needed for the RPCs, that are adversely financially affected thanks to the sharp fall in costs of their major crops (tea and rubber), to pay the interim allowance to their nearly two hundred,000 force. The disbursed funds were obtained from the People’s Bank and also the Bank of Ceylon – that received a ‘letter of comfort’ during this regard from the Ministry of Finance as per a cupboard call.

The loans, with a grace amount of 1 year and a compensation amount of 3 years, carry associate rate of fourteen.5% and can be paid back to the Tea Board by the RPCs.

The interim allowance are going to be paid by the RPCs supported the agreement reached with the govt that a labor agreement incorporating a productivity-linked wage model are going to be signed by August 2016, to exchange the noncurrent daily wage-based system prevailing within the country’s estates at the present, that has crystal rectifier to the step-up of labour prices as employees don't have adequate incentive to extend productivity.

Read More>>> 
http://bizenglish.adaderana.lk/rpcs-eye-signing-productivity-based-collective-agreement-estate-workers-to-receive-interim-allowance/

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