Crisil report on coal block auction early next month

Last Updated: Monday, September 17, 2012 - 20:21

New Delhi: Crisil, consultant to the Coal Ministry for fixing reserve price for auction of 54 mines, is likely to submit its report early next month.

"Crisil will take another 15 days to submit its report. It had sought some more time for it," Coal Minister Sriprakash Jaiswal told reporters here Monday.

Based on the report, the government would initiate the bidding process for allocation of mines.

A political furore followed the Comptroller and Auditor General (CAG) recently estimating that the financial impact of the benefit to the private allottees on account of allotment of 57 mines to them without auction will be about Rs 1.86 lakh crore.

The Coal Ministry has identified 54 new coal blocks for auction to the bidders for captive use in different sectors -- 16 for power, 12 for steel and 12 for government firms, among other sectors.

Finance Minister P Chidambaram had recently said that the government has asked Crisil to expedite the process and the bidding documents are being prepared in consultation with the state governments.

PTI

First Published: Monday, September 17, 2012 - 20:21
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