PANJIM: Claiming that the people of Goa are owners of the State’s natural resources, Goa Foundation director Dr Claude Alvares on Wednesday informed that a whopping Rs 32,805 crore will be deposited in the Permanent Mineral Fund from e-auctioning of four mining leases following Supreme Court verdict.
It is pertinent to note that the Apex court had directed that a Permanent Mineral Fund be created for protecting the intergenerational equity by reserving 10 per cent of the sale proceeds out of the e-auction.
Earlier, Rs 500 crore was deposited in the Permanent Mineral Fund; he said during the launch of his book ‘The Supreme Court and Intergenerational Equity - The Goa Mining Case,’ by High Court of Bombay Judge retired Justice R M S Khandeparkar at Sanskruti Bhavan, Patto, here.
In his presentation ‘Should Mining Restart in Goa?’ Dr Alvares gave history of ownership of minerals in the State since the first lease granted way back in 1929 and thereafter as many as 790 leases were granted.
He claimed that the people of Goa own these minerals and they should do mining carefully without damaging environment. Explaining the history of mining in three phases, he said that the third phase is for the young people of the State to decide what they want to do now? He also proposed Sovereign Wealth Fund wherein money generated from natural resources is deposited in these funds and kept for future generations and exclusively for the citizens of the State.
Dr Alvares said that the sale proceeds from e-auctioning of four mines was Rs 43,502 crore of which Rs 32,805 crore came to the State Permanent Mineral Fund for the first time as against only Rs 20 crore up to 2009, which later soared to Rs 900 crore.
He said that following Supreme Court judgment to create a permanent fund for protection of intergenerational equity by reserving 10 per cent of the sale proceeds out of the e-auction, Rs 500 crore was deposited in the Permanent Mineral Fund and now Rs 32,805 crore will be deposited following e-auction of four mining blocks.
Speaking on the occasion, chief guest retired Justice RMS Khandeparkar said that the book written by Dr Alvares and its research director Rahul Basu is a lesson to all activists particularly environmentalists in the State to know how to take up problems and steps to be taken to solve them.
Justice Khandeparkar said that the book is a black and white record of efforts made by Dr Alvares and his team and fruitful result that are experienced on account of their strenuous efforts and being alert and prompt in taking appropriate action clearly with interest of public and welfare of common man in the State.
“Kudos to Alvares and his team, they certainly deserve wholehearted compliment, Justice Khandeparkar said and wished them enough strength to take up much more relevant issues to ensure Goans a health development of the State for the benefit of Goans and welfare of common man in particular with active participation of Goans.
Co-author of the book Rahul Basu also spoke. It was followed by a panel discussion. Earlier, Goa Foundation president Dean D’Cruz welcomed the gathering and Adv Norma Alvares introduced the chief guest.