The Hindu Business Line : Singareni staff to get 12 pc incentive

The management of the State-owned Singareni Collieries Company Ltd has been directed to pay 12 per cent of profit after tax for 2005-2006 as special incentive to its employees.

The coal mining company hasachieved a net profit of Rs 184.63 crore and as per the directions of the State Chief Minister, Dr Y.S. Rajasekhara Reddy, it will pay Rs 22.15 crore as incentive.

According to the State Minister for Energy, Mr Mohd Ali Shabbir, the company has achieved profits and surpassed the production targets for the past four years continuously.

In a message to the company, the Chief Minister urged the miners to ensure that they surpass the production target of 37.5 million tonnes of production during the current fiscal.

Welfare measures

Giving details of some of the welfare measures taken by the company in 2005-06, the Minister said they include mechanisation, man riding systems in the underground mines, literacy programmes for spouses and construction of more than 4,500 quarters which meant an increase of expenditure to Rs 468 crore.

The per capita employee welfare expenditure is Rs 54,403, which the company said was the highest-ever in its history.

The company is set to start coal production from BPA OC-II expansion, SRP OC-1 and Dorli OC-I during the year.

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