Opposition unions say no to 29% share in SCCL profits

Khammam: Chief Minister K Chandrashekar Rao's announcement on Tuesday giving 29% of Singareni Collieries Company Limited (SCCL)'s net profit sharing bonus to its workers, was welcomed by the recognised union Telangana Boggu Gani Karmika Sangam (TBGKS) leaders.

But, leaders of other opponent unions and parties have opposed the CM's decision, stating that they had expected at least 30%. They demanded 35% share in profit. Stating that the Company had showed low profit this year, they demanded hike in the percentage of profit this year.

Meanwhile, workers and leaders of other unions also expressed disappointment against the company's decision of offering 29% share in profit this year.

On the other hand, the recognised union leaders said that its a good decision by the company during Covid pandemic. Compared to previous years, the company is giving good share in profit to every worker, they observed.

The workers will get an average of Rs 17,000. Due to Covid pandemic, the company could not get profits compared to last year, but it continued giving profit share to every worker as on process. The company got Rs 272 crore profit this year only.

According to sources, as many as 48,500 workers of the SCCL are eligible to get the profit share this year.

SCCL started giving profit share to the employees in 1999-2000 and in the starting year, it gave 10% share. According official sources, the company's year-wise bonus data is like this – 16% in 2009-11 and 2010-11; 17% in 2011- 2012; 20% in 2013-14; 21% in 2014-15; 23% in 2015-16; 25% in 2016-17; 27% in 2017-18; 28% in 2018-19; 28% in 2019-20; and this year (2020-21) announced 29% share in profit.

A few union leaders have shared their opinion on this with The Hans India.

Vanga Venkat of AITUC told The Hans India that he opposed the company decision and giving 29% share profit is meaningless. 'The company had disappointed the workers by giving 29%, who were expecting 35% or at least 30% share this year.' The company had earned record profits in 2018-19 financial year, but failed to recognise the hard work of the workers behind the profits, he criticised.

Responding to the SCCL's decision, CITU leader M Narasimha Rao stated that it's a very bad decision taken by the company. He alleged that the company management had showed less profits though the company earned good profits this year. "As per company statement, it got Rs 272 crore profits and 29% share of that will be Rs 80 crore. As per calculations, each worker will get Rs 14,000 only," he stated. 

Speaking to The Hans India, B Venkat Rao, president of Telangana Boggu Gani Karmika Sangham, recognised union, welcomed the decision of the State government and SCCL management and stated the company has taken historical decision of giving 29% share in profit this year to every worker despite Covid pandemic situation. As per this, each employee will get Rs 17,000 on average and compared to last year, the government added one percent, he said.

INTUC leader Janak Prasad said that he was totally against the company decision. He criticised that the recognised union had failed to get a good share in profit to the workers this year. He reminded that INTUC has been demanding 35% share in profits from the beginning.