Singareni Collieries employees to get 30 per cent share in profits for 2021-22

Telangana Chief Minister K Chandrasekhar Rao has decided to give 30% share in the profits of Singareni Collieries for 2021-22, to the company's employees as Dussehra gift


Hyderabad: Telangana Chief Minister K Chandrasekhar Rao on Wednesday decided to give 30 per cent share in the profits of state-run Singareni Collieries Company Limited (SCCL) for 2021-22, to the company’s employees as Dussehra gift.

As per Rao’s instructions, his principal secretary Narsinga Rao issued an order to the Singareni Chairman and Managing Director to pay the special incentive to the company’s workers before Dussehra, a CMO release said.

CIL might miss 1 BT coal production target for FY25, likely to hit it a year later: CMD

As part of the move, the SCCL will pay Rs 368 crore to the eligible workers.

The Singareni Collieries Company Limited (SCCL) is a government coal mining company jointly owned by the Telangana government and the Union Government on a 51:49 equity basis.

(PSU Watch– India’s Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)