CPI(M) demands tabling of CAG report

The CPI(M) demanded that the CAG report on coal block allocation be tabled in Parliament without delay.

Updated: Mar 22, 2012, 16:28 PM IST

New Delhi: The CPI(M) on Thursday demanded that the
CAG report on coal block allocation be tabled in Parliament
without delay and necessary actions initiated to recoup the
losses to the national exchequer.

In a statement, the party said a draft CAG report has
estimated a whopping Rs 10.67 lakh crore loss to the exchequer
on account of allocation of 155 coal blocks without
competitive bidding by the UPA government between 2004 and
2009.

Out of this, windfall gains of Rs. 4.79 lakh crore
accrued to a number of private companies.

"The CPI (M) demands that the CAG report be tabled in
Parliament without delay and necessary actions initiated on an
immediate basis to recoup the losses to the national
exchequer," it said.

The party said coal, being a natural resource, cannot be
gifted to private corporations at throwaway prices.

The Supreme Court has reiterated this principle in the
recent 2G judgement that the state as a custodian of the
country`s natural resources cannot sell it off without
transparent competitive bidding, it said.

"While allocating coal blocks to public sector power
utilities, which play a social role by providing electricity
at reasonable rates, is understandable, such enormous largesse
showered on profit-making private companies is nothing but a
huge scam.

"It is disturbing that these coal blocks were allocated
at a time when the Prime Minister was in charge of the coal
ministry. Coming after the 2G, CWG, KG gas and Air India
scams, the coal scam is yet another misdeed of this
scam-ridden UPA government.

"All these scams are outcomes of the big business-corrupt
politician-bureaucrat nexus which has flourished under the
neoliberal policy regime," the party alleged.

PTI