The indefinite stir called by the Brihanmumbai Electric Supply and Transport Undertaking employees demanding a pay revision was called off on Saturday.
This came after a mutually agreed settlement was arrived at, BEST general manager Swadheen Kshatriya said.
It has been decided to appoint an arbitrator, a retired judge of mutual consent, who will be given three months to work out a settlement, Kshatriya said.
Both parties have agreed to accept whatever the arbitrator decides.
The name of the arbitrator will be decided soon, he added.
An interim arrears payment-- a dearness allowance of Rs 1,000/month for employees who have completed more than ten years and Rs 800/month for those who have completed less than 10 years-- will be given for the period from April 2001-March 2005.
The advance will be adjusted to the final payment after the arbitrator's report, Kshatriya said.
BEST will start paying the arrears before April 27, he said.
He added the adjustment would not cause any additional burden on BEST.
Over 44,000 BEST employees joined the stir called on Thursday night.
Almost the entire 3,400-strong fleet of BEST buses remained off the roads on Friday and Saturday, causing inconvenience to lakhs of commuters in the city.
The road transport service ferries nearly 45 lakh passengers a day.
Earlier Report: BEST stir turns violent