SHILLONG: The State Government will amend the existing Meghalaya Industrial and Invest Promotion Policy, 2012 to conform to certain standards as far as the corporate social responsibility of the companies are concerned, Chief Minister Dr Mukul Sangma said in the Assembly on Tuesday.
During the Question Hour, leader of the Opposition Dr Donkupar Roy(UDP) pointed out the need on the part of the companies with an annual profit of above Rs 500 crore to pay 2% of the profit towards Corporate Social Responsibility (CSR).
In reply, the Chief Minister said that the Government would examine the list of companies and their annual turnover. He said that as per the 2012 policy, the Industrial units in the large, mega large and ultra large categories would be required to carry out corporate social responsibilities. To the supplementary questions by Paul Lyngdoh (UDP) and Saleng Sangma (Ind), the Chief Minister said that the Government would come up with new rules related to Corporate Social Responsibility and will amend Meghalaya Industrial and Invest Promotion Policy 2012.