ISCMR meet concludes with demand of compensation policy for minerals

Ranchi, Apr 12 (UNI) The two-day meet of Inter-State Council of Mineral Resources (ISCMR) concluded with a unanimity over providing compensation to the resource bearing states for minerals including coal and iron ore.

Talking to reporters after the meet council's secretary Amitabh Pandey said that views from all participating states had been taken over formulating a compensation-policy for natural resources available in those regions.

Mr Pandey said discussions were held for to provide maximum benefits from the specific policy for natural resources including minerals, Hydro-electricity, coal and pertoleum.

Replying to a query to the demand of ad-valorem royalty on coal by Jharkhand, Orissa and Chhattisgarh, Mr Pandey said Centre had no objection over adopting the system but it would not benefit the states in if the rates of coal declined.

He said matter would be considered by the Union government if state government wished to adopt the ad-valorem royalty system.

At present ad-valorem royalty is being paid on selected minerals.

Representatives from Gujarat, Orissa, Jharkhand and other mineral producing state participated in the meet which also discussed about a recent report of mineral royalty submitted by the Tata Energy Research Institute.

Others present dignatories included Chairman of Coal India Limited Partho Bhattacharya, Additional Secretary of coal ministry S P Seth, Chief Secretaries of Rajasthan, Chhattisgarh.

UNI