Wednesday, September 22,
The Indian steel ministry said it may seek concessions for state owned firms like SAIL and NMDC from the 26% profit sharing rule, proposed in the draft mining bill, as the PSUs have been fulfilling social obligations for long.
Mr Virbhadra Singh steel ministry when asked if PSUs would be exempted from the mandatory profit sharing regime being proposed in the new mining bill said that “Some special consideration has to be given to PSUs for the historical role in social obligations being undertaken in different parts of the country.”
Mr Singh’s comments come days after a ministerial panel reached a consensus to give the go ahead to the draft mining bill, which seeks that miners share 26% of profits with local people affected by their mining projects.
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