RCF proposes to manage FACT for a fee

摘要

Rashtriya Chemicals and Fertilizers Ltd(RCF)has submitted a proposal to the Department of Fertilizer(DOF)to undertake the management of Fertilisers and Chemicals Travancore Ltd(FACT)for an initial period of three years.RCF has said that it intends to turn around the loss making South-based company in a profit making PSU for a suitable fee.For this,RCF has sought a Fixed Fee(FF)of 1% on the total turnover of FACT and a Management Remuneration(MR)of 10% of the net profit.However,if FACT does not register profits in a financial year,RCF shall not be entitled to any MR for that year.