Banks DIH workers to benefit from 9% wage increase

More 1,000 employees from local beverage manufacturing company – Banks DIH Limited – are set to enjoy a nine per cent salary increase along with other fringe benefits following the signing of a new three-year agreement with the General Workers Union (GWU) on Wednesday.

The Memorandum of Agreement (MoA) was signed in the presence of the Chief Labour Officer (CLO) Dhaneshwar Deonarine in the Ministry of Labour’s Boardroom.

Parties from both sides were in high spirits, having reached an amicable conclusion following three weeks of virtual negotiations.

Banks DIH Human Resource Manager Andrew Carter expressed hope that the “symbiotic relationship” can continue in the years to come.

“The negotiations are reflective of the longstanding commitment we have with the Union over the years.

“We have had situations where both sides needed to make points from time to time but generally speaking, the relationship has always been harmonious and we hope to keep it that way in the years to come,” Carter said.

In response, Pancham Singh, the General Secretary of the union pledged continued support, noting that the negotiation process went smoothly the best terms agreed on for the workers.

He said the nine per cent across the board salary increase is the highest attained thus far.

“Everything went smoothly…we ironed out our issues before we started negotiating to ensure that everyone was on the same page so all in all, we are happy with the increase, we got 9% and it is the highest percentage paid so far,” Singh related.

The new accord provides for a five per cent increase in the first year and three per cent in the second for salaried employees, the union’s General Secretary explained.

He said too that the third year has been left open to cater for fluctuations in the economy.

Additionally, the new agreement provides for better working conditions including increases in travel, meal and overtime allowances.