more-inThe Punjab government on Thursday decided to grant mining contracts through progressive bidding, in a move that is expected to boost government revenue and curb illegal mining. The decision on re-auction of mines through progressive bidding was taken at a meeting of the Cabinet led by Chief Minister Amarinder Singh. “Following the decision, contractors of mines auctioned through reverse bidding process would be given their advance profit for the balance term of their contracts. A total of Rs.11 crore is expected to be paid out for this purpose,” an official spokesperson said. The Cabinet also approved the release of funds to private educational institutions under the Post-Matric Scholarship for Scheduled Castes to private educational institutions.

Source: The Hindu May 31, 2018 17:43 UTC