CovEr STory - Mjunction

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Feature Govt may start auction of new blocks in May Coal Insights Bureau The ministry of coal (MoC) is expected to appoint a consultant for the auction of new blocks within the next couple of weeks and start the auction by May-June, coal secretary Alok Perti told Coal Insights. A pre-selection meeting of MoC and interested consultants who had responded to Alok Perti, Coal Secretary the EoI floated by the ministry was held in Delhi on March 12, he said. The ministry had floated the EoI to appoint a consultant who would come out with a transparent and efficient way of conducting the auction. Asked when the auction process will start, Perti said, “We would like to start it as soon as possible, but we have to examine the suggestions provided by the consultants.” Overall, the entire process may take another two months to complete, he said, indicating that the auction may actually start in May-June. MoC identifies 54 Vinod Rai, CAG blocks The MoC has identified 54 coal blocks for allotment through government dispensation route and auction route to public and private sector companies. “In the first lot, 54 blocks will be put up for auction and allotment,” Perti said. COAL INSIGHTS 30 March 2012
fEATURE However, it was not known how many of these blocks would be allotted through each route. “I don’t have the breakup of the numbers right now,” he said. The ministry has been considering allotment of new blocks through auction route for quite sometime now, as the previous system of allotting blocks for captive mining was questioned from some quarters. As of today, only 29 blocks of around 194 blocks allotted for captive production have come to the production stage. The ministry, on review of the development of the blocks, found a number of block owners lacking in action to achieve milestones. This prompted MoC to de-allocate some blocks and consider auctioning the new blocks so as to attract only the serious players. Uproar over CAG report Meanwhile, a draft report by the Comptroller and Auditor General (CAG) on allocation of captive blocks by the government created a furore in Parliament on March 22, but was later watered down by the statutory authority as ‘preliminary observations’. A media report which quoted the report titled ‘Performance Audit of Coal Block Allocations’ said the government extended undue benefits totalling Rs 10.67 lakh crore to commercial entities by giving them 155 coal acreages without auction between 2004 and 2009. The report evoked hasty reactions from Opposition parties in Parliament, leading to adjournment of both Houses. When asked about the report, Coal Minister Sriprakash Jaiswal refused to make any comment on the report. “I can’t comment on the basis on any media reports. If we receive the CAG report, we will analyse it and then take action. I have been the Coal Minister only in the UPA II and during this time no coal block has been given,” he said. The CAG, however, later issued a statement, saying that the media report on coal mining auction was misleading and that the draft as still in a preliminary stage. “In the extant case the details being brought out were observations which are under discussion at a very preliminary stage and do not even constitute our pre-final draft and hence are exceedingly misleading,” a CAG statement on the PMO site said. “...Pursuant to clarification provided by the ministry in exit conferences held on February and March 9, 2012, we have changed our thinking….In fact it is not even our case that the unintended benefit to the allocatee is an equivalent loss to the exchequer. The leak of the initial draft causes great embarrassment as the Audit Report is still under preparation. Such leakage causes very deep anguish,” it added. Earlier, the method of allocating captive coal blocks were questioned from some quarters. There were also reports of slow progress in the captive blocks mining projects. Subsequently, the government decided to hold auctions so as to attract only serious players. COAL INSIGHTS 31 March 2012
Page 3 and 4: Chief Editor Rakesh Dubey, Tel: +91
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Page 9 and 10: DIG DOWN, AND YOU’LL FIND IT’S
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Page 26 and 27: coal market fundamentals Price fixe
Page 28 and 29: Feature The new and effective price
Page 32 and 33: fEATURE MoC may deallocate 58 block
Page 34 and 35: fEATURE Ministry of Coal and repres
Page 36 and 37: Feature COAL INSIGHTS 36 March 2012
Page 38 and 39: fEATURE Trans Damodar coal block st
Page 40 and 41: fEATURE Union Budget a mixed bag fo
Page 42 and 43: fEATURE Indian plants generate 70,9
Page 44 and 45: fEATURE Power utilities’ coal imp
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Page 60 and 61: Expert Speak most of it is under fo
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Page 64 and 65: International US coal consumption,
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Page 74 and 75: power sector update ALL INDIA ENERG
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