The Competition Commission has dismissed allegations of unfair business practices against state-owned Coal India Ltd (CIL) with regard to sale of coking coal.
A panel headed by former CVC Pratyush Sinha to review coal blocks auction mechanism is likely to submit its report in six-eight months, coal minister Piyush Goyal said.
The government is looking at 2018 with renewed optimism for the coal sector in the wake of demand upturn and expecting 6-7 per cent growth in supply of the dry fuel next year.
Acute coal shortages in India are beginning to take their toll on the country’s aluminium producers, as several of the major aluminium firms are unable to obtain sufficient quantities to keep captive power plants in operation.
The coal ministry, which has formed a search committee for finding a chairman for Coal India (CIL), has finally invited applications from suitable candidates last week.
Seeking PMO’s intervention for adequate coal supply to the aluminium industry, key players have said the shortages have put 7.5 lakh jobs in the sector at risk and investments are bogged down by a heavy debt load of Rs 70,000 crore.
Coal Secretary Susheel Kumar on Wednesday said the government is weighing measures to bring auctioned captive coal blocks into operation.
Auction of reserves selected for commercial mining is likely to be completed by the end of March, and this is likely to end state-owned Coal India’s near monopoly in the domestic market.
The coal ministry has launched a mobile application to facilitate Coal India customers to lift coal through road.
In its quest to make Coal India a cleaner company, the coal ministry has prioritised development and adoption of clean coal technologies like coal to liquid, coal to polychemicals among other initiatives.