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MAR 31 2017

Government seeks public comments on auction of coal mines

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 31st MAR 2017

 

A discussion paper on the modalities for allocation of coal mines through auction route has been placed in the public domain to seek comments of stakeholders, Parliament was informed today.

“To prepare the modalities for allocation of coal mines through auction for sale of coal by private companies, a discussion paper containing proposed eligibility conditions and proposed methodology has been prepared in the first instance to consult the stakeholders,” Coal Minister Piyush Goyal said in a written reply to the Lok Sabha. The discussion paper, he said, has been placed in the public domain for a specified period to solicit public opinion, comments.

Enabling provisions have been made in the Coal Mines (Special Provisions) Act, 2015 for allocation of coal mines by way of auction and allotment for the sale of coal, he said.

“The methodology for allotment of coal mines under the provisions of the Coal Miens (Special Provisions) Act, 2015 to Central/State public sector undertakings for sale of coal has been approved by the government,” he added.

Commercial mines are alloted without specifying the end use and allow private entities to sell the fuel to buyers across sectors such as power, cement and steel. The government has identified four coal blocks which would be put up for auction in the next fiscal.

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