Labour Minister Yiannis Panayiotou on Saturday said that the next steps in the ongoing CoLA dispute is to hold a meeting with all relevant stakeholders.

Speaking to CyBC radio, Panayiotou stressed the need for compromise and reiterated the government’s position that CoLA (Cost of Living Allowance) will not be abolished, stating that this possibility is not up for discussion.

He warned, however, that the full reinstatement is unfeasible.

The labour minister added that the first round of discussions are complete and that if everyone is now on the same page then a meeting can be held in March.

Mass strikes were held in late January as thousands of workers across all sectors downed tools for three hours over an impasse between the government and unions on full restoration of the cost-of-living allowance (CoLA).

Currently, employees who receive CoLA get 50 per cent of the rate as part of measures dating back to the financial crisis in 2013.

Unions want it restored 100 per cent as promised but say they are willing to see this done in increments over the next three years.