The Government today assured the steel industry to address industry's concern on 26 per cent profit-sharing rule in the proposed draft mining bill. Steel Secretary P K Mishra said in New Delhi that the ministry will take a holistic view on the issue. Mr. Mishra added that the sharing of profit may harm the interests of the steel companies in the short term and once they gear up for more efficient production pattern, they can minimise the effect.Last week, a ministerial panel headed by Finance Minister Pranab Mukherjee agreed to give a go-ahead to the draft mining bill which seeks miners to share 26 per cent of share in the profits with local people affected by their projects.
News On AIR | September 21, 2010 4:26 PM
Govt to address steel industry's concern on 26% profit-sharing rule<br/>