In a landmark development, Public Utilities Minister Barry Shiva Padarath announced a $131 million settlement to resolve a long-standing Cost of Living Allowance (COLA) issue affecting nearly 3,000 TTEC workers. The announcement was made during the House of Representatives’ 12th sitting on November 21, following the signing of a historic memorandum of agreement between TTEC and the Oilfields Workers’ Trade Union (OWTU) on November 13. The first tranche of retroactive payments was deposited into workers’ accounts on November 18, marking a significant step toward justice for employees whose COLA payments had been frozen for nearly a decade. The settlement introduces new COLA rates and outlines a four-stage disbursement plan for retroactive payments, set to be completed by February 2026. Weekly-paid workers will now receive a COLA rate of $5.75 per hour, bringing their total to $15.64 per hour, while monthly-paid workers will see their COLA increase by $1,050, totaling $2,721.36. Minister Padarath emphasized that the settlement provides immediate relief to households struggling with rising living costs and criticized the previous administration for a decade of inaction. The agreement also includes safeguards such as mandatory monthly cash-flow reviews to ensure financial responsibility. Padarath hailed the settlement as a restoration of dignity and fairness, ensuring workers receive their rightful dues in time for Christmas 2025.