Apropos of the news report “Delhi HC rejects plea for release of fertiliser subsidy...
No fertiliser subsidy plea in HC
Apropos of the news report “Delhi HC rejects plea for release of fertiliser subsidy of R35,000 crore” (FE, January 7), the Fertilizer Association of India (FAI) has never filed any petition in Delhi High court or any other court regarding immediate release of subsidy payments to the tune of R35,000 crore with 14% interest. Thus, the question of the court rejecting the petition does not arise. However, FAI had filed a writ petition in Delhi High Court for interest on delay in payment of subsidy. The High Court passed an order dated 27.8.2014 directing the Department of Fertilizers (DoF), Ministry of Chemicals and fertilizers to dispose of the representation of FAI for interest on delayed payment of subsidy in line with the office memorandum of DoF dated 14.2.2011 in the case of Southern Petrochemical Industries Corporation Ltd versus Union of India. As per the memorandum, the DoF made the payment of interest on outstanding subsidies to the affected fertiliser companies. But in pursuance of the order of the Delhi High Court dated 27.8.2014, DoF has issued an order dated 9.12.2014 stating that fertiliser companies are not entitled to interest on delayed payment of subsidy on the ground that there is no provision of interest on such delayed payments in the NBS or NPS policy.
Fertilizer Association of India
Revise PSU bank wages
It is laudable that while participating in the two-day Gyan Sangam, prime minister Narendra Modi assured the PSU banks that the government would not interfere in their affairs thereby ensuring absolute freedom in their functioning and decision-making. The prime minister’s assurance, if practised in letter and spirit, would help the bankers to use their discretion in the right manner to extend credit to deserving borrowers, which in turn would assure the acquiring of quality assets and the growth of industry. One more area where the government should act immediately is to look into their genuine request for wage revision which we learn is pending for more than two years now.
Tharcius Fernando, Chennai