Sops windfall for SCCL staff

Telangana Chief Minister K. Chandrasekhar Rao on Wednesday said that the workers of Singareni Collieries Company Ltd (SCCL) would get a 27 per cent share in the profit posted by the company in the financial year 2017-18. This would result in a two per cent increase in percentage terms and `24 crore rise in absolute terms.

In the financial year 2016-17, the workers had received a 25 per cent. In the fiscal ended on March 31, they would get a two per cent more share in profits compared to previous year.

In absolute terms, the workers would get `327 crores — the 27 per cent of the company’s `1,212 crore net profit for the fiscal 2017-18. As per previous fiscal’s share, the workers would have got `303 crore.

In the previous fiscal, the workers got `99 crore in profit share, which is 25 per cent of `395 crore profit that it posted in fiscal 2016-17.

The Chief Minister instructed the Singareni CMD that the share of workers should be increased to 27 per cent from 25 per cent given last year.

He also said that the Performance Related Pay (PRP) which has been due for the last eight years to Singareni officers should be paid immediately.

The CM assured the Singareni officers that the government would allot land to them in Hyderabad for construction of houses. Mr Rao announced a `10-lakh interest-free loan facility to officers and other employees for construction of houses at par with Singareni workers.

The CM suggested that henceforth the Singareni workers were to be addressed as employees without discriminating them from other staff.

He said the separation of the management and workers as two different entities had to be done away with and all employees should be treated as one single family of Singareni.

The Coal Mines Officers Association members and TBGKS leaders met Mr Rao at Pragathi Bhawan led by TBGKS honorary chairperson and MP K. Kavitha. On this occasion the Singareni officers presented a cheque for `1 crore to the CM’s Relief Fund for the welfare of exarmy personnel.