Bonanza for employees of Singareni Collieries

​Hyderabad: It is bonanza time for the employees of Singareni Collieries Company Limited (SCCL). Telangana state government on Thursday announced that the employees would get a special incentive of 23 per cent of the net profit, earned by the company in 2015-16.

The government also took the decision of reviving the dependent employment facility which was scrapped in 1998.

Chief Minister K Chandrashekar Rao, who held a meeting with the officials and people’s representatives here, said that Rs 245.21 crore, out of Rs 1,066.13 net profit, would be distributed to the employees.

According to official figures, each employee would get Rs 43,078 as his share in addition to Rs 54,000 bonus declared by the company.

The Chief Minister claimed it was first time in the history of the SCCL that the employees were getting the highest-ever share of 23 per cent from the company profits. Last year, it was only 21 per cent.

He congratulated SCCL Chairman and Managing Director N Sridhar for achieving the highest-ever coal production as well as profits.

KCR said that the kin of those employees who died while performing duties or afflicted with incurable aliments or injured severely would be provided employment on compassionate ground from this year.

The dependent employment scheme would also be applied to those who voluntarily retired and did not get the benefits.

Singareni Coal Workers’ Union honorary president and MP K Kavitha and MPs and MLAs were also present at the meeting.