In a first of its kind gesture, Telangana Rashtra Samithi president and chief minister K Chandrasekhar Rao on Tuesday declared a bonus of ₹1,00,899 for each of 54,000-odd workers and employees in the state-run Singareni Collieries Company Limited, one of the largest coal mining companies in the country.
Making an announcement to this effect in the state assembly, KCR said during 2017-18, the workers were paid 27 per cent of the company’s profits as bonus and this year the government decided to increase the bonus to 28 per cent of the profits. In 2018-19, the Singareni Collieries registered a record profit of ₹1,765 crore.
“Last year, each worker was paid an amount of ₹60,369 as bonus. By increasing the share in profits, each worker will now get ₹1,00, 899 as bonus, which is higher by ₹40,530,” KCR said.
He reminded that during 2013-14, when the Singareni Collieries was under the combined Andhra Pradesh regime, each worker was given a meagre amount of ₹13,540 as bonus. In the last five years, the Telangana government had been increasing the bonus gradually, he claimed.
Describing it as a Dasara bonanza for the employees, the Telangana chief minister hoped that the workers and employees of Singareni Collieries would take this gift as an inspiration and work with more dedication and commitment to enable the company earn more profits.
{{/usCountry}}Describing it as a Dasara bonanza for the employees, the Telangana chief minister hoped that the workers and employees of Singareni Collieries would take this gift as an inspiration and work with more dedication and commitment to enable the company earn more profits.
{{/usCountry}}He said in the financial year 2013-14, the Singareni Collieries was producing 50.47 million tonnes of coal every year. In the last five years, the production of coal has been going up and in 2018-19, the coal production reached a record level of 64.41 million tonnes.
“Progress in coal production, transport, sales, profits, increase in turnover, all stand as a symbol to the Telangana state government’s effective and good governance. It is a proud moment for all of us, when the Singareni fared better than the Coal India in almost all parameters related to the coal management in the country,” he claimed.