The Government today ruled out privatisation of coal mines in the country but asserted that private players would have to be involved in mining of coal if the country had to achieve ten per cent growth. The Minister for Coal, Sriprakash Jaiswal, while replying to the debate on the Mines and Minerals (Development and Regulation) Amendment Bill, 2008,in the Rajya Sabha, which was later passed by the House, said that the Government wanted to bring in genuine private players who would give money through proper bidding process. To a question raised by many members that some private companies had not started work even after years of allotment of coal mines, he said the Government had cancelled the permits of ten such companies. He added that the Government had also set up a Committee which will look into the royalty issue.He also admitted that 25 to 30 per cent coal block holders were fake and added that the government was looking into the matter.Earlier, members belonging to various oppossition partiesdemanded a rethink on the royalty regime and a transparent auction proccess. He said that more than 200 mines had been given which yielded 27 billion tonnes of coal.
News On AIR | August 17, 2010 6:03 PM
Govt rules out privatisation of coal mines