management will pay 12% profits as special incentives

Hyderabad, Sept 9 (UNI) Andhra Pradesh Minister for Information and Public Relations, Energy and Coal Mohd.Ali Shabbir today said the Singareni Colleries Company Limited(SCCL) would pay 12 percent of profits after tax, as special incentives for the employes for the year 2005-06.

Addressing a press conference here, he said the Chief Minister Dr.Y.S. Rajasekhara Reddy had directed the management to pay special incentives to employees . Accordingly, the Management would pay Rs 22.15 crore to all its employes.

He said it was heartening to note that SCCL had achieved profits successively for ninne years and surpassed production targets for the past four years contineously.

He said the company achieved Rs.184.63 crore net profit during 2005-06.

Chairman and Managing Director of the company R.K. Khwaja said as a welfare centric organnisaton, the company was taking special measures such as providing Man Riding System in UG Mines, literacy programmes for spouses and construction of more than 4500 quarters to employees.

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