Bizodisha Bureau, Bhubaneswar, July 24, 2015 : Odisha government has began the exercise to form the District Mineral Foundation Trust (DMFT) as required under the Mines and Minerals (Development & Regulation) [MMDR] Amendment Act.

Officials said, the state government is all set to bring up a notification by August end. The proposed DMFT aims at social and economic development to the mineral rich areas of Odisha.

The state government is ready with a draft DMFT deed giving details about the investment pattern in the mineral bearing districts.

The MMDR Amendment Act makes it amply clear that the respective State governments would set up such foundations in every district affected by mining as a non-profit organization, which will focus on the development of infrastructure, health and education of the respective regions.

The foundations, with names eponymous to their regions, will run from the respective Zilla Parishad offices.

Government officials appointed on the trust will work as trustees till the time they hold a particular government office. In case of transfer, the official will relinquish his trusteeship to the replacing officer. The nominated trustees will hold office for a period of 3 years. The existing trustees can also be re-nominated but they cannot hold the office for more than 3 terms.

The management of the trust will be entrusted upon a governing council, which would include all the members of the trust while a managing committee will look after the day-to-day work of the trust. All the decisions of the trust will be taken at the governing council meeting based on voting.

Decisions endorsed by a majority will be implemented and, in case of a tie, the chairman of the council will take the final decision. The council will also create the annual action plan and budget and approve it.

The funds of the trust will be deposited in one or more nationalised banks in accounts opened in the name of the trust. The trust’s member-secretary and a member of a managing committee will operate the accounts.

The funds collected by the trust will be spent ensuring holistic development of the mining districts through creation of necessary infrastructure for the economic and social development.

Moreover, the trust will protect, preserve and develop community-owned assets. The funds will also in invested towards generating employment opportunities for local people and enhance the self-employment abilities of the locals through various training initiatives.