CM reviewes performance of APMDC

Hyderabad, Aug 27 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhar Reddy reviewed the performance and issues pertaining to the Mines and Geology and Andhra Pradesh Mineral Development Corporation Ltd (APMDC) with senior officials here today.

The Chief Minister appreciated the efforts made by APMDC to achieve the highest turnover as well as profits. He also expressed happiness on the performance of the Department of Mines and Geology in achieving the targets. The state government had fixed Rs 1,750 crore as target for the current financial year for this department, he said.

The Chief Minister was informed that with respect to the targets achieved up to August 20, 2007, the department of mines and geology registered a growth of 21.28 per cent than the corresponding period of 2006-07.

With regard to the realisation of mineral revenue on major minerals (non fuel minerals), the department had achieved an amount of Rs 83 crore as against the target of Rs 85.89 crore.

An amount of Rs 175.69 crore was collected during the period up to August 20, 2007 on coal against the target of Rs 141 crore.

On crude oil and natural gas also, an amount of Rs 34.17 crore had been realised against Rs 48.77 crore.

Regarding revenue on minor minerals, the department also realised an amount of Rs 247.79 crore against the target of Rs 251.27 crore and achieved a growth rate of 28 per cent over the corresponding period of previous financial year.

Similarly, an amount of Rs 42 crore was realised on sand up to by way of auctions and temporary permits upto August 20, 2007.

APMDC had achieved not only the highest ever turnover of Rs 94.50 crore but highest profit of Rs 32 crore as well, during the year 2006-07.

UNI