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IMG to assess performance of coal blocks of PSUs as well

Press Trust of India/New Delhi 09 Sep 12 | 02:54 PM

Having reviewed the progress of the private sector coal block allottees, the Inter-Minister Group will now assess the performance of the PSUs which were also given the blocks without auction, sources said.

"The IMG will take a few more days to complete its report as it has to do the review of the PSUs coal block allottees also," a source said.

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In the three-day IMG meeting last week, around 29 coal blocks given to the private sector were examined.

Around 30 coal blocks of the 58 issued showcause notices are public sector firms like MMTC, Chhattisgarh Mineral Development Corporation (CMDC), Jharkhand State Mineral Development Corporation (JSMDC), Orissa Mining Corporation.

These coal blocks allocated to PSUs would be reviewed by the IMG over the next few days, the source said.

The IMG review comes close on the heels of CAG estimating undue advantage to private companies to the extent of Rs 1.86 lakh crore in the absence of auction.

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