Commercial coal block auction likely in FY18: Coal Secy

Commercial coal block auction is likely to be carried out within this financial year ending March 2018, a top coal ministry official said here today.
"A decision will be taken this month of the Cabinet. Thereafter, of course, the process would begin but it is likely to take time. In this financial year, this should happen," Union Coal Secretary Susheel Kumar said here today on the sidelines of the 7th Asian Mining Congress.
Kumar had earlier said the Cabinet Committee on Economic Affairs (CCEA) will soon take a call on the methodology for allocation of coal blocks for commercial mining.

A discussion paper on the modalities for allocation of coal mines through auction route was earlier placed in the public domain for seeking stakeholders' feedback.
"We have already received comments of stakeholders and 5-6 mines will be auctioned under commercial mining," the Secretary had said.
Speaking about the present coal situation, he said, "Look at how much supplies has increased. The issue is not of supplies."

The Central Electricity Authority (CEA), he said, has issued a guideline saying stocking should be for 22 days but the power plants had not done that which was why the problem cropped up.
"They had no stocks. I hope they have learnt their lessons and they will stock in future," Kumar said.

He pointed out that there was no shortage in supplies and imports were unlikely to go up.
In the non-power sector too, the supplies are improving. By December this year it is expected to improve further, he added.