NTPC's loss could be Coal India's gain. The Coal Minister indicated that some of the recently de-allocated coal blocks from companies such as NTPC and Damodar Valley Corporation could be given to Coal India.
Last week, the Coal Ministry de-allocated 14 coal blocks and one lignite block from both public and private sector companies due to their delay in developing them within the specified timeframe.
“We will try to give some of the de-allocated blocks to Coal India Ltd or other state-owned companies,” the Coal Minister, Mr Sriprakash Jaiswal, told reporters on Wednesday.
R&R policy
The Minister, who reviewed the performance of CIL, Neyveli Lignite Corporation and Singareni Collieries Ltd, has asked CIL to come up with a new rehabilitation and resettlement (R&R) policy in three months. The new R&R policy should be in tune with the changing times and keep in mind the demands of the project affected people, Mr Jaiswal said.
As part of the current R&R policy, CIL provides a job for every two acres of land acquired and a cash compensation of Rs 5 lakh per acre. “There is a growing resentment against the current R&R policy,” Mr Jaiswal said, adding that CIL has been told to come up with an attractive compensation package.
Price hike ruled out
Mr Jaiswal also ruled out an imminent price hike of coal ahead of the upcoming wage revision for Coal India workers in July. “Wage revision will certainly happen, but not price hike. We have not decided on the coal price hike,” he said. Coal India increased its prices by about 30 per cent in February for customers in cement, sponge iron and captive power sectors.
Further, in a bid to ensure that coal production targets are met for the current fiscal, Mr Jaiswal said that he would review the progress made by the coal companies every two months. Coal India and its subsidiaries have set a production target of 452 million tonnes for the current fiscal against 431 million tonnes produced last year.