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Coal Ministry prepares draft norms on coal block allocation

The governmnet will auction coal blocks, whose allocation was cancelled by the Supreme Court, only to specified end-users, Coal Secretary Anil Swarup said.

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The Coal Ministry today issued much-awaited draft guidelines for e-auction of 74 coal blocks of the 200 odd coal blocks that had been cancelled by the Supreme Court

The governmnet will auction coal blocks, whose allocation was cancelled by the Supreme Court, only to specified end-users, Coal Secretary Anil Swarup said in a media briefing. He further added that bids for coal blocks are likely to be auctioned in the first phase and will be due on February 11.

Swarup also clarified that coal block auction is not a revenue maximisation exercise
and the government is keen that tariffs don’t rise. Also, in an attempt to avoid monopoly, a cap will be put on the number of blocks a company can bid for.

More to follow

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