The Planning Commission is likely to moot a new formula to compensate land losers in mining projects, whereby the displaced will get an upfront payment from mining companies. The commission would suggest the plan to the mining ministry shortly, and a clear picture was likely to emerge in the next two weeks, Planning Commission Member Arun Maira said on the sidelines of a seminar by the Institute of Company Secretaries of India (ICSI) here today. The Mines and Minerals Development and Regulation (MMDR) Act calls for 26 per cent of profits to be spent on land losers or making them shareholders. But, Maira said an upfront payment, which could be calculated on the same basis as royalty to be paid by the company in lieu of mining to the government , was a better idea.