Johannesburg - Workers and employers in South Africa’s
petroleum sector have agreed on a two-year wage deal, a labour union said on
Tuesday, averting a repeat of last year’s strike that left hundreds of dry
pumps across Africa’s biggest economy.
Labour union Solidarity said in a statement the deal
includes an 8% pay rise for 2012 and a consumer price index (CPI) plus 2%
increment from April 2013.
Solidarity said the agreement for next year was on condition
that should CPI drop to below 5%, the raise would not be below 7%. Should
inflation rise above 8% then the wages would be raised by not more than 10%, it said.
Sasol [JSE:SOL], PetroSA and Engen are some of the biggest employers
in the sector.