Coal Ministry Cancels Allotment of Five Coal Acreages

Coal Ministry Cancels Allotment of Five Coal AcreagesAccording to reports, the coal ministry has put on hold the five coal acreages, along with the three given to state run generation utility, NTPC stating that the companies displayed lack of seriousness in developing them.

However, NTPC has reacted to the statement, as they said; “the decision was irrational and lacked transparency since the company has completed more work in its blocks than other private firms had done in their mines”.

Coal Minister, Sriprakash Jaiswal is reported to have currently expressed that the decision will be review, which has confused people on the recent cancellation.

Hence, the power ministry has sent a letter to the coal ministry early this month, requesting an urgent review of the decision to cancel allocations to NTPC, as they raised concerns that; “NTPC’s plans of adding over 15,000-mw generation capacity were likely to get hit if the allocations were cancelled”.

Moreover, the coal ministry is reported to have given notices on the allocation of 84 coal and four lignite blocks, as it wanted explanations from the companies, on why their allocation should not be cancelled.