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Coal India today said CITU-led All India Coal Workers' Federation has served notice to the PSU for a three day strike beginning September 19 against the proposed stake sale in the maharatna firm.
"All India Coal Workers' Federation (CITU) has served strike notice vide letter dated August 7, 2013 which was received by us on August 8, 2013 against proposed divestment of 5% of Coal India (CIL) shares, restructuring of Coal India Limited," the company said in a filing to BSE.
The federation also demanded that non-implemented issues of National Coal Wage Agreement-IX viz increase in pension and post retirement medical benefits be implemented immediately, CIL said.
"Otherwise, they will go for three-day strike in Coal India Limited and its all subsidiaries commencing from September 19, 2013, " it added.
All India Coal Workers Federation (AICWF) is one of the leading trade unions of Coal India.
Meanwhile, the Disinvestment Department said : "The government intends to disinvest 5% of paid up equity capital or over 31.58 crore shares of CIL through Offer for Sale of shares by promoters through the stock exchanges."
At the current market price of Rs 268 apiece, the 5% stake sale would fetch Rs 8,463 crore to the exchequer.
The government, which originally planned to sell a 10% in CIL, had halved it to 5% later in a bid to placate trade unions.
Coal Minister Sriprakash Jaiswal had said last week that three of the five major trade unions had given their consent to proceed with the 5% stake sale.
However, trade union body Indian National Mineworkers' Federation said the five unions which had a meeting on the issue with the Coal Minister had decided to reserve their response till remaining demands are considered by the government.
Coal India workers are represented by five trade unions INTUC, HMS, BMS, AICWF and AITUC.
"All the five national federations functioning in the coal industry have reached unanimity...On opposition to disinvestment and for asserting its position through a strike," AICWF had earlier said in a statement.
On August 5, INTUC Secretary General S Q Zama had said the five unions would meet after August 15 to devise the future strategy.
According to industry analysts, a single day's strike may result in CIL losing more than 1 million tonnes of production. The company's output in 2012-13 was 452.21 million tonnes.
The government holds 90% stake in CIL. The company was listed on the bourses in 2010 after the government raised Rs 15,199 crore by selling a 10% stake in the country's biggest initial public offering.
CIL accounts for over 80% of domestic coal production and has a cash balance of about Rs 60,000 crore.
CIL shares closed at Rs 268.20, up 2.07% from the previous close.
