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KCR Bonanza To Singareni Miners; Waives PT, Announces 21% Dividend

kcr

Chief Minister K Chandrasekhar Rao today directed the officials to offer 21 per cent of dividend (share in benefits) to Singareni workers for 2014-15 besides giving exemption of Professional Tax.
At a high-level review meeting with Singareni workers’ association honorary president and MP Kavitha and CMD Sridhar at camp office, KCR took key decisions to increase the existing share of benefits to 21 from 20 per cent offered last year and waiver of Profession Tax. The decision of waiver of PT will save from Rs 15,000 to Rs 20,000 to each of the 60,000 odd workers of the Singareni Collieries. Out of Rs 491 crore profit, the company will offer Rs 103.11 crore to the workers towards sharing.
The Chief Minister also decided to abstain from collecting Professional Tax arrears of Rs 175 crore pending since 1990 from the workers. On coming to power, the TRS government raised the share benefits from 18 to 20 per cent. (NSS)