The Centre will start e-auction of coal blocks soon, Coal Secretary S. K. Srivastava said here on Monday.
“It will be a successful and comprehensive model,” he said.
To a question on the situation arising out of cancellation of coal blocks, he said the government was trying to resolve problems brought about by internal and external situations. “The government knows that the basic way to resolve the issue is to auction as fast as possible”, he said.
Mr. Srivastava, who was here to launch a pilot for computerised provident fund accounts for coal mine workers, said the e-auction would provide one-time opportunity to interested parties. While he declined to provide any timeline, there are reports that bidding for the de-allocated blocks could be done by December. “The ordinance promulgated by the government takes care of all aspects,” Mr. Srivastava said.
On the issue of penalty, he said as of now there were no indications that the government would file any review petitions on the penalty aspect. “There is little scope,” he observed.
It may be mentioned that apex industry bodies such as the Associated Chambers of Commerce and Industry of India has stressed the need for early auction of the 204 cancelled coal blocks so that the existing end-use plants will not be adversely affected.
He said the Coal Mines (Special Provsions) Ordinance provided for “a lot of things, covering all aspects.”
