It’s raining sops for the employees and coal miners of the Singareni Collieries Company limited (SCCL) with the State government announcing for the first time 27 % share in the profits of the company.
It is celebration time in entire coal belt areas of the Singareni. Chief Minister K Chandrashekhar Rao, who had announced the revival of the long pending depending employment scheme for the coal miners, is now receiving accolades for announcing the 27 % share in the profit to the employees.
The Singareni had earned a profit of ₹ 1212 crore during the year 2017-18 and the government had announced 27 % share of profits to the employees and miners which amounts to ₹ 327.27 crore. On an average, each employee and miner would be getting a profit of ₹ 60,000 minimum amount to ₹ 3 lakh maximum amount.
Reforms in place
The Singareni, which had come out of the Board of Industrial and Financial Reconstruction (BIFR) in the year 1996-97, had started making profits since 1997-98 following the reforms introduced by the then TDP government. During the year 1999-2000, the company earned profit of ₹ 300 crore and the workers were given 10 % share of profit which amounted to ₹ 30 crore.
Even during the Sakula janula same (general strike) launched by the miners demanding the statehood in the year 2011, the company earned profits of ₹ 358.27 crore. But, the workers were given profit share of only 17 % which amounted to ₹ 60.09 crore.
Since the formation of Telangana state, the company earned profit of ₹ 491 crore during the year 2014-15 and the workers were given profit of 21 % amounting to ₹ 103.11 crore.
In the year 2015-16, the company earned ₹ 1001.17 crore and the profit share was 23 %. In 2016-17, the profit was ₹395.38 crore and the profit share was 25 %. During the year 2017-18, the Singareni earned record profit of ₹ 1212 crore and the government had aslo announced profit share of 27 % which amounts to ₹ 327.27 crore.
Leader of the recognised trade union — Telangana Boggu Ghani Karmika Sangham (TGBKS) — K. Mallaiah said that the Singareni was running in more profits in the separate Telangana state due to team efforts of the miners and the officials. He said that the Singareni workers were getting more amount of share in the profits only under the TGBKS leadership and added that Chief Minister K. Chandrasekhar Rao had further increased the profits every year at the rate of 2 % for the benefit of miners and employees.
