‘Bumper offer for Singareni workers’.. Board approval for payment of Rs. 10 per tonne for workers’ pension fund: CMD N. Sridhar
Mr. N. Sridhar Chairman & Managing Director of Singareni informed that Rs. 10 per ton of coal production would be deposited in the coal mines pension scheme (CMPS) with an objective to help the retired pensioners.
He announced the decisions of the 556th Board of Directors meeting under his chairmanship held at Hyderabad Singareni Bhavan on Thursday (January 28th).
He explained that the workers working in the mines who retire are paid Coal Mines Provident Fund (CMPF) in full along with the pension paid monthly (coal mines pension scheme) which is calculated based on his tenure. The number of workers retiring has gone up and hence there is a shortfall of funds and to compensate this Singareni would be paying Rs. 10 for every ton of coal produced to CMPS fund along with Coal India. This would be implemented form 19th December, 2020. This would help in the smooth payment of pension to the retired workers.
He also informed about some approvals given in the Board meeting.
Board approved the purchase of 12 motor graders at different OC mines at a cost of Rs. 33.74 crores and 21 SDL machines which are needed for underground mines at a cost of Rs. 7 crores 13 lakhs.
Board approved the arrangement of mobile crushers at 4 OC mines. The Board approved removal of overburden from RG Open Cast -3, Ramakrishnapur open cast, Srirampur open cast, KTK open cast projects.
The board primarily agreed to award small contract works to SC and ST community as per the Telangana State Government GO No. 59. The framework and procedure with regard to this will be formed as per the Government GO.
The Board approved Rs. 2550 crores annual budget for the year 2021-22 as well as Rs. 1750 crores annual budget for the year 2020-21.
This meeting was headed by C & MD Sri. N. Sridhar. Central coal department Director Sri. P.S.L.Swamy, Deputy Secretary Sri. Ajithesh Kumar who are the board members on behalf of the central government participated via video conference. Director (Operations & P) Sri. S. Chandrashekar, Director (Finance & P&P) Sri. N. Balaram, Director (E & M) Sri. D. Satyanarayana Rao participated in the Hyderabad Board meeting.