According to the 'Result Framework for FY14' document disclosed by the ministry, many of the other targets concern Coal India, including submission of study on restructuring of the public sector coal major by December.
The coal ministry’s hands will be full this fiscal – its to-do list is long and targets many.
To start with, it wants to begin the auction of coal blocks by October. The auction is being eagerly awaited by the coal-starved private sector – eager because some reports said the government might go slow on the auction till the Central Bureau of Investigation completes its enquiry into the earlier allocations.
According to the ‘Result Framework for FY14’ document disclosed by the ministry, many of the other targets concern Coal India, including submission of study on restructuring of the public sector coal major by December.
But, going by the pace of work undertaken during April-June, the ministry is already behind target dates set for some of its objectives.
According to the document, the ministry was supposed to allot coal blocks to public sector companies; give out specific mines of Coal India under the public private partnership (PPP) model to selected mine developers; select and engage a consultant for modernisation and technology upgradation of Coal India by June-end.
All these three targets have not been met yet.
On allocation of mines to state-owned companies, the inter-ministerial committee concerned met at May-end, not earlier. It was attended by state representatives with their cases.
On the PPP initiative, dna had earlier reported that Coal India had initial consultation with companies like Reliance ADAG, Adani, GMR BGR Energy as well as global metal giant ArcelorMittal among others. They had all responded to calls to participate in mine development. The final selection is yet to happen though.
According to Coal India sources, bids of consultants to be engaged for the company’s modernisation is likely to be opened on July 9.
As for Coal India’s restructuring, nine consultants have been shortlisted. The final selection is likely to happen on August 19.
The ministry has set a target to cut down Coal India’s pithead stocks by about 25 million tonne by December.
Coal India’s stock lying at pithead was 57 million tonne as at March-end, down from about 72 million tonne a year back.
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