Pay hike for estate workers - Daily Mirror

cse.alpha · 1 Pay hike for estate workers - Daily Mirror Mon Jan 31, 2011 12:06 pm

cse.alpha

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Pay hike for estate workers - Daily Mirror Online 31st Jan 2011

A struggle for a pay hike for the estate workers will be launched in the near future while demanding a daily wage of Rs. 700, the Ceylon Estate Workers Union said today. (YP)
http://www.dailymirror.lk/index.php?option=com_content&task=view&id=9445&Itemid=425

A reminder of one reason why Sri Lankan plantations should not trade at premium valuations...

Last edited by Quibit on Tue Feb 01, 2011 8:06 am; edited 1 time in total (Reason for editing : format condensed)

Rajitha · 2 Re: Pay hike for estate workers - Daily Mirror Mon Jan 31, 2011 12:45 pm

Rajitha

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Most plantations already did the pay hike last December. 2009 December and rest last December. Only few struggling plantations have not done the pay hike so far.
FYI:-Every person in Sri Lanka is asking for pay hike and its not different just for plantations.

cse.alpha · 3 Re: Pay hike for estate workers - Daily Mirror Mon Jan 31, 2011 12:56 pm

cse.alpha

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The last collective wage agreement for the plantation sector expires by the end of March 2011. From April 2011, ALL plantations will be subject to new wages, backdated to April 2011 (with gratuity) if agreed at a later date. The wage hikes from Dec 2009 applied to the period from April 2009 to March 2011.

The unusual aspect of plantation wage negotiations in Sri lanka is that they are heavily unionised labour forces, usually politicised, and wage demands have only limited links to productivity enhancements.

That being said, opportunities will still exist for value investors in selected plantations, most likely those with above average profit contributions from rubber and palm oil.

mono · 4 Re: Pay hike for estate workers - Daily Mirror Mon Jan 31, 2011 1:08 pm

mono

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Personally, profitability aside, a lot of the upcountry plantation workers need a wage hike

the living conditions they suffer through are simply not acceptable.

Last edited by mono on Mon Jan 31, 2011 3:50 pm; edited 1 time in total

Slstock · 5 Re: Pay hike for estate workers - Daily Mirror Mon Jan 31, 2011 3:10 pm

Slstock

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cse.alpha wrote:Pay hike for estate workers - Daily Mirror Online 31st Jan 2011

A struggle for a pay hike for the estate workers will be launched in the near future while demanding a daily wage of Rs. 700, the Ceylon Estate Workers Union said today. (YP)

http://www.dailymirror.lk/index.php?option=com_content&task=view&id=9445&Itemid=425

****

A reminder of one reason why Sri Lankan plantations should not trade at premium valuations...

On one hand, if companies make profits they should also take care of their employee in a fair manner. One the other and employees should nto ask for the moon for their company gets into a difficulty.

I guess this issue will mostly effect companies who neglected their employees in the last salary revision. Good companies the impact should be less . Say 10-20% of their costs which they can cover up my good revenue and practice.

KDS · 6 Re: Pay hike for estate workers - Daily Mirror Mon Jan 31, 2011 3:23 pm

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I agree with mono, the living conditions of upcountry estate community is very poor compared to the luxury we enjoy. Even their homes are not repaired by most the estate management's while the home is much old (given at colonial times)

So, keeping this people hungry and plantations companies making profit is unethical which is one reason i don't like to invest in Tea plantations. Also, the trade unions are to be blamed for this as they run behind petty political gains. In comparison Tea plantations workers seems to be the most affected.

Coming to stocks Price increase on essential food times and elections would definitely trigger wage hike increase this time. So, the people who bought plantations stocks at high prices be vigilant.