Hyderabad: Sharing the profits of the Singareni Collieries Company Limited (SCCL) to the its employees, the Telangana govt has announced Rs 596 crore bonanza for Singareni coal mine workers on the occasion of Dasara . Deputy CM and Energy minister Bhatti Vikramarka announced that each permanent employee of SCCL would receive an average profit-sharing amount of ₹1,53,912. In addition, 29,717 contract workers of Singareni would receive a bonus of ₹5,500 each.
Addressing a media conference at Praja Bhavan on Tuesday, along with IT and Industries minister D Sridhar Babu, Vikramarka said that 38,737 permanent employees would benefit from the decision. Bhatti Vikramarka said the govt has decided to distribute 34% of Singareni’s profits among workers, continuing the practice followed in previous years. The company earned a net profit of ₹1,754 crore this year, of which ₹596 crore would be distributed among workers as their profit share. The govt had paid a bonus of ₹5,500 to contract workers last year and had decided to continue the same amount this year.
He said that the state govt was equally committed to the welfare of permanent employees and contract workers. Explaining the reasons for decline in SCCL profits this time, the deputy CM said that several factors had contributed to the decline in Singareni’s profits compared with the previous year.
He recalled that, out of 5,774 acres returned by Singareni to the revenue department, 4,500 acres had been distributed as house-site pattas to the poor during the previous Congress government under the late CM Y.S. He said the Singareni management had been directed to expedite the process of issuing house-site pattas to eligible beneficiaries for the remaining approximately 1,250 acres under Government Order No. 76.
Vikramarka said the state govt was determined to fulfil the long-cherished dream of Singareni employees and workers to own houses. Vikramarka said that the Congress govt had taken steps to strengthen Singareni by focusing on acquiring new coal blocks. Rajasekhara Reddy. He referred to Tadicherla-II, Koyagudem Block-III, the Manuguru PK Open Cast-II dip-side block and Naini among the blocks being pursued as part of efforts to expand the company’s operations.