Cement Manufacturers Association writes to government

New Delhi: The Cement Manufacturers Association (CMA) has written to the Department for Promotion of Industry and Internal Trade raising concern over the likelihood of deletion of section 10A(2)(b) of the MMDR Amendment Act, 2015.

The CMA pointed to growing anxiety in the industry following media reports suggesting deletion of section 10A(2)(b) of the Act, "which doesn't go well with the spirit of 'ease of doing business'."

The section 10A(2)(b) was introduced to safeguard efforts, investments and risks undertaken by holders of reconnaissance permit (RP) and prospecting licence (PL) to have a seamless conversion to the next stage after completion of exploration.

Nearly 600 such applications for captive leases were pending with various state and central government authorities, the CMA said. Aparna Dutt Sharma, CMA Secretary General, said in the letter that Prime Minister Narendra Modi had stressed necessity of strengthening the mines and mineral sector to move towards an Atmanirbhar Bharat.

"The steps, which take away the vested rights, will not be in sync with the Prime Minister's vision," it said. A prompt redressal of this would fast-track growth of the mining sector and boost all the eight core industries dependent on the mining industry, it said. (IANS)

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