Final decision on 9 coal blocks by Friday

The coal ministry will take a decision on whether there are any price discrepancies in case of the nine winning bids, including those made by Jindal Steel and Balco

jasleen

Jasleen Kaur | March 19, 2015 | New Delhi


#Coal   #coal secretary anil swarup   #coal mines bill   #coal block auction   #coal india   #jindal steel  

Nine successful bidders of captive coal blocks will have to wait to take control of the coal mines till the government takes a final call on the bidding price. The government is re-examining nine winning bids out of the 33 coal blocks auctioned so far.

The coal ministry will take a decision by Friday on whether there are any price discrepancies in case of the nine winning bids. These include those made by companies like Jindal Steel and Balco.

Talking to Governance Now, coal secretary Anil Swarup said, “There are nine cases where bids are being re-examined. No one has questioned the process as such. When bids came to us we found that there were certain 'outliers'. There were some bids outside the trend. And we want to understand the reason for that.”

He added that there could be a good reason behind it, but the ministry cannot accept it with closed eyes. “If something is evident on the face of it, that there is an outlier I should examine why it is so.” He further said that if there is a good ground behind the outlier then the ministry will accept the bid. And if it fails to find a good explanation behind it, it will not be accepted. The secretary said the ministry provided a transparent platform for coal blocks auction.

Thus the final decision on allocating mines to winning companies like Hindalco, Jindal Steel and Power, Jaypee Cements and Usha Martin would depend on the re-examination of their bids by the auction nominated authority. Five of these blocks belong to Schedule III (near operational) category, while four are under Schedule II (operational).

The passage of the Coal Mines (Special Provisions) Bill, 2014 by April 5 would be imperative to commence the next round of coal blocks auction or else re-promulgation of the Ordinance which has already been promulgated twice on October 20 and December 24 last year.

The government can auction these blocks again, give them back to Coal India or give them to the states. The government is likely to announce its decision on these mines by Friday.

The coal secretary also said that the ministry is not looking at the possibility of cartelisation as of now.

Comments

 

Other News

Ajay Singh is president’s press secretary

Ajay Kumar Singh, who has been the editorial director of Governance Now, has been appointed the press secretary of the president of India. The decision was made by the Appointments Committee of the Cabinet headed by prime minister Narendra Modi on Monday. The appointment will be on contract

Amit Shah on India’s languages: What else he said

Home minister Amit Shah’s remark on the need for a single national language has rightly sparked a debate, but the headlines missed much in his speech about language, culture, and identity. Giving away Rajbhasha Gaurav Puraskar and Rajbhasha Kirti Puraskar awards on the occasion of Hin

On A Personal note with musician Apache Indian

Renowned British singer, songwriter and reggae DJ, Apache Indian (originally known as Steven Kapoor) shot to fame with his style of music which came to be known as bhangramuffin (also called bhangragga) – a mix of bhangra, reggaemuffin and traditional dance hall in the early 1990s. His style changed

Traffic fines: Find the sweet spot between penalty and self-goal

When close to five lakh people are killed in road accidents every year in India, road transport minister Nitin Gadkari should have been complimented on his not-so-populist move to impose higher fines for traffic violations. Instead, many people are unhappy and several states – mostly ruled by the BJP

A unique project gives new life to a chaotic Mumbai fishing village

Traditional fishermen or Kolis; synonymous with feasting, song and dance; are the original inhabitants of Mumbai. For generations, they have loved their vocation and prided in it. But their work and lifestyle are facing threats from reclamation, land acquisition by builders, lack of sustainable fishing pra



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter