Trade unions and employer organisations are meeting with Labour Minister Yiannis Panayiotou on Friday, where he is set to submit his compromising proposal over the cost of living allowance (CoLA).
The meeting is taking place at 11am at the labour ministry.
Panayiotou has stressed the aim is to ensure stability between all sides, which can only be achieved through a mutual agreement.
He stressed CoLA can neither be scrapped nor can 100 per cent of it be paid.
Public service workers and around 30 per cent of private sector employees are party to collective agreements and eligible to CoLA adjustments.
Unions are demanding the gradual full restoration of CoLA while employers say they want to continue to pay 50 per cent of CoLA as had been the practice in the past five years.
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