Hyderabad, Oct 13 (IANS) The Telangana government on Tuesday announced that the employees of state-owned Singareni Collieries Company Ltd (SCCL) will be paid Rs 596 crore as a bonus for Dasara.
Deputy Chief Minister Mallu Bhatti Vikramarka declared a 34% profit share for permanent employees as a Dasara gift.
Permanent employees of the company will be paid an average profit share of Rs 1,53,912 each, while contract employees will get Rs 5,500 each.
Mallu Bhatti Vikramarka, who also holds the Energy and Finance portfolios, announced that a total of 38,737 permanent employees and 29,717 contract workers would benefit from this decision.
Like in the past, the government decided to allocate 34% of Singareni’s profits as a share for the workers. The deputy CM explained that out of the Rs 1,754 crore net profit earned by Singareni this year, 34%—amounting to Rs 596 crore—would be distributed to the workers as their profit share.
Last year, the government had paid Rs 819 crore as a bonus. Each permanent employee was paid Rs 1,95,610.
The company had earned a profit of Rs 6,394 crore in 2024-25.
The Deputy CM explained various reasons behind the decline in Singareni’s profits this year. He criticised the previous BRS government for failing to secure additional coal blocks over the past decade.
Bhatti Vikramarka alleged that the organisation suffered significant losses because it was prevented from participating in the coal block auctions conducted by the Central Government.
He noted that the failure to utilise the opportunity to participate in the auction of approximately 141 coal blocks hindered the company’s business expansion. The Deputy CM mentioned that the closure of some existing coal blocks was impacting both production and revenue. With nearly 14 blocks having shut down, there is an urgent need to acquire new blocks, he said.
Bhatti Vikramarka stated that the government is focusing on acquiring new coal blocks to strengthen the Singareni. He stated that measures to secure new coal blocks were initiated after the Congress government assumed office.
He claimed that efforts were underway to expand the company’s business by acquiring these new blocks.
The Deputy CM stated that there is currently intense competition in the coal market. He explained that coal is being supplied by entities such as Mahanadi Coalfields, Coal India, and Western Coalfields, while private companies are also offering coal at lower prices.
He noted that due to the high price of Singareni coal, some companies are inclined to purchase coal from other sources. Under these circumstances, he said, there is a need to rationalise Singareni’s coal prices to align with market rates. He warned that failure to adjust prices could lead to the loss of coal buyers, potentially resulting in a further decline in the company’s revenue.
Bhatti Vikramarka announced the government would issue pending dependent employment orders within 15 days. The announcement is expected to bring relief to families awaiting employment under the dependent employment scheme.
He said instructions have been issued to complete the processing of about 250 to 300 pending dependent employment orders and other related legal formalities within the next 15 days, and to hand over the appointment orders to eligible candidates.
–IANS
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