Oil officers strike postponed till July 17

New Delhi, May 30 (UNI) The action committee of the Oil Officers Coordination Committee has decided to postponed their proposed strike from tomorrow to July 17 in consonance with the direction of the Mumbai High Court.

Talking to UNI the Chairman of the action committee Ashok Chauhan said there was petition at the Mumbai High copurt which came up for hearing today and the court after hearing the case directed the Central Government to resolve the matter by July 17 and simultaneously called upon the members of the oil sectors workers to postpose their proposed strike till that time.

Earlier, the Association of Scientific and Technical Officers (ACTO) of Oil and Natural Gas Corporation (ONGC) along with the PSU Oil sector's officers were to go in for an indefinite strike from tomorrow to press for their various long pending demands.

ACTO President L K Mirchandani in a press statement issued here today said they were demanding for a five year periodicity of pay revision, hundred per cent DA neutralisation with effect from January 1, 1996 and fifty per cent DA merger and immediate release of Additional stagnation increaments.

He said in spite of sufficient notice the Ministry of Petroleum and Natural Gas has not convened even a single meeting with Oil Sector's Officers Association (OSOA)- the umbrella body representing 45,000 Oil PSU's executives and ASTO, Due to this indifferent attitude of the Department of Public Enterprises (DEP) even after having a favourable recommendations from the Ministry of Petroleum and Natural Gas ASTO was forced to go in for the strike.

Mr Mirchandi said the impact of the indefinite strike by OIL PSU's on the economy will be catastrophic and the entire nation would come to a grinding halt. It would lead to the loss of crude oil production from offshore and onshore fields to the tune of 71,000 tonnes per day which is equivalent to 5,22,000 barrels per day. The average loss of oil will come to Rs 164.5 crores per day, while the loss of gas sales will be around 54 Million Standard Cubic Meters per day.

The gas loss to exchequer at an average price of Rs 3040 per 1000 Cubic meters amounting to Rs 16.5 crores per day and the loss of value added products and production will be 9300 tonnes per day.

UNI/BKS MP RK1854