Khammam: Celebrations erupt in Singreni

Khammam: The workers of Singareni Collieries Company Limited (SCCL) were on cloud nine on Thursday as the company announced giving 28% share in the profits to every employee and worker. Addressing the Legislative Assembly, Chief Minister K Chandrasekhar Rao announced that each employee will get a bonus of Rs 1,00,899, which is Rs 40,530 more than the last year's.

As the announcement was a music to the ears of workers, they burst into celebrations and praised the company for recognising their efforts by giving them befitting share in the profits.

While all workers welcomed the company's decision, there was a mixed reaction from the workers unions.

The Telangana Boggu Ghani Karimikha Sangam(TBGKS) leaders welcomed the decision, its opposition unions' leaders criticised saying that the company should have given more share. They said that they had demanded 35% in the company's profits. They said they had expected at least 30% hike this year. Many union leaders and workers expressed their disappointment against thecompany decision of offering 28% share in profit this year.

The recognised union leaders said it is a good decision by the company. In comparison to previous years, the company is giving good share in profit to every worker. Comparing to last year, every worker will get nearly Rs 40,000 more this year. There are nearly 48,500 workers eligible for receiving the share in profit this year.

The company earned a whopping Rs 1,766 crore profit in the financial year 2018-19, announced the company's Chairman and Managing Director N Sridhar. Since the announcement of the profits, the workers had been eagerly waiting for the Chief Minister to announce their share in the profit of the company. After a long wait the CM Chandrashekar Rao finally announced in the Assembly that the workers will begiven 28% per cent bonus.

Actually, the company had implemented the system of giving bonus in the financial year 1999-2000.On that year the company had given 10% share in profit to the workers. That year on every year the company has been giving share in profit to every worker. According to official sources, the company's year wise bonus data is as follows: 2009-10 and 2010-11 profit 16%, 2011- 2012 (17 %), 2013-14( 20%), 2014-15 (21%), 2015-16 (23 %), 2016-17 (25%) , 2017-18 (27%). This year the company has decided to give 28%.

B Venkat Rao, president (Telangana Boggu Ghani Karmika Sangham):

I welcome the decision of the State government and the SCCL management. The company has taken a historic decision by giving 28% share in profit this year to every worker. Last year, the company had given 27% , this year it is increased by 1%, so every worker can get Rs 1,0400 this year. To compare to last year the worker could get Rs 40,000 more.

Vanga Venkat (AITUC):

I opposed the company's decision of giving just 28% share in the profit. The workers were expecting 35% share in the profit this year. They were expecting that they would get at least 30% hike in share, but the company gave only 28 %. The earned the company a record breaking profit this year but the company doesn't recognised the workers' hard work.

M Narasimha Rao (CITU):

Responding to the company decision he said, it is very bad decision taken bythe comapany. The company had good profit why the company is not giving goodshare in profit to worker he asked. He said, the workers are expected minimum 30%share in profit but here the company had taken decision against the workers. Hedemanded to the management immediately to give the announcement of the sharein profit to the workers.

Janak Prasad (INTUC):

I opposed the company's decision. The company failed to give good share in profit to the workers this year. The INTUC had demanded 35% share in the profits. I had asked the management to give more profit to workers than 2018-19 but by giving less profit it showed that the company is not doing justice workers. I rubbished the decision of the company.

Show Full Article
Print Article
Subscribed Failed...
Subscribed Successfully...
Next Story
More Stories