CM sanctions special incentive to Singareni employees

Chief minister, N Kiran Kumar Reddy, has sanctioned Rs 72.05 crore as special incentive to all the employees of Singareni Collieries Company Limited (SCCL) for 2012-13. This amounts to 18.3 per cent increase over last year and is the highest special incentive announced so far, according to an official press release.

On this occasion, the chief minister asked the trade unions and employees to strive to make up the shortfall of 2.6 million tonnes in production during the remaining five months of the current financial year to meet the fuel supply agreement commitments to power and other key sectors.

The special incentive will benefit around 65,354 employees. The average amount to be received by an employee this year as incentive will be Rs 11,203 compared with Rs 9,308 last year. Depending upon the employee attendance and performance during the year, the maximum will be around Rs 30,127 as against Rs 25,764 last year.

The amounts distributed as incentive per annum in the past has ranged from Rs 8.9 crore in 2000-2001 to Rs 60.9 crore in 2011-12 depending upon the net profit earned during the year.