HomeNewsBusinessEconomyGovt to auction 15-20 more mines if Coal Bill passed in RS

Govt to auction 15-20 more mines if Coal Bill passed in RS

The Coal Ordinance which was re-promulgated in December would lapse on April 5. "Whatever action has already been taken is deemed to be valid, so we would have completed all our actions before April 5. As far as ongoing auction process is concerned nothing will get impacted.

March 19, 2015 / 18:19 IST
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The coal auction will resume by end of April or early May with 15-20 more mines, provided the Coal Mines bill is passed in Rajya Sabha or a new ordinance is promulgated. "If the Bill (Coal Mines) get passed (in Rajya Sabha) then there would be auction of 15-20 coal blocks. It (the auction) will start in April-end or the first week of May," Coal Secretary Anil Swarup told in an interview to Media.

"We have identified about 15-20 coal blocks which can be put on auction. But we have to have Authority...only if we have a Bill or an Ordinance, without that we cannot have auction," Swarup said.

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He said even in case the Bill does not get passed in Upper House, the ongoing auction process will not get impacted though the future auctions will be held back.

The Coal Ordinance which was re-promulgated in December would lapse on April 5. "Whatever action has already been taken is deemed to be valid, so we would have completed all our actions before April 5. As far as ongoing auction process is concerned nothing will get impacted.