MMDR Bill likely to be place in Parliament in winter session
Kolkata | Sunday, Nov 1 2009 IST
 

The Centre will introduce in the winter session of Parliament the long pending Bill, seeking to amend the Mines and Minerals Development Regulation Act, 1957, Minister of State for Coal Sriprakash Jaiswal said today.

Speaking at the National seminar on ''Coal: Partnership for Growth'' here, he said once the legislation was made it will help bring in structural reforms in the coal and mining sector and transparency in competitive allocation of coal blocks to the benefit of power and steel industries.

The Bill will also pave the way for appointing a coal regulator for faster allotment of blocks and inviting more private investment in the sector, Mr Jaiswal said.

Coal India, with reserves of 106 billion tonnes, has already given 208 blocks to various companies for captive mining. It has further identified 216 coal blocks, out of which it proposes to retain 138 and auction the rest. Coal India can also participate in the auction.

Mr Jaiswal said the coal production in the country was 493 million tonnes as against a demand of 555 million tonnes and the shortage was met through imports.

He said the targets to raise the coal production by the eleventh Five Years Plan and in the next six to seven years were 680 million tonnes and one billion tonnes, respectively.

''The industry needs to grow at nine per cent every year to reach this target. And this is a challenging task,'' the minister said.

Stressing on deregulation and further opening up of the sector, Mr Jaiswal said both private and public sectors needed to participate for infusion of eight to ten billion Dollars in the coal sector over the next five years for development and upgradation of mines.

-- (UNI) -- 01CA19.xml

 

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