Ready for any eventuality: Govt on final SC decision on coal

Government today said it was awaiting the final decision of the Supreme Court on the coal block allocations and was prepared for any eventuality as it has its plans ready irrespective of any verdict.
"Government is ready for any eventuality. We have our plans ready irrespective of any orders. We are waiting for the final court verdict," Coal Minister Piyush Goyal said on the fate of the 218 coal blocks.
Goyal, who also holds the Power portfolio, said the government will immediately get into action upon any decision of the apex court.
"We only want finality as we cannot act otherwise," he said hoping for an early verdict from the top court that is looking into the allotment of 218 coal blocks.

According to him, the government has speed up work on increasing coal production and plans are already ready.
Goyal said the government has also informed the court for exempting 40 coal blocks which are already in production and produced 37 million tonnes of coal last year and are expected to produce 50 MT this year. He said another six coal blocks are ready and their lease for mining is to start.

He said government will abide by all court orders and has told the court that "If the court desires, it may consider allowing these coal blocks to function."
Goyal said the government has sought exempting these coal blocks from cancellation and re-auction, provided they meet the condition of compensating the loss of Rs 295 per tonne caused to the government and enter into a power purchase agreement at Rs 95 per tonne to make up the loss.

The Supreme Court had said that all coal blocks during last 17 years since 1993 by various regimes at the Centre have been allocated illegally and arbitrarily, bringing uncertainty to the fate of 218 block allocations and consequential investments to the tune of around Rs 2 lakh crore.
The government has told the court that it "wants re- auction of all 218 coal blocks" declared as illegal allocation but sought its indulgence to "exempt" 40 of them which are functional and ready for the end use power plants, for which it has been asked to file an affidavit by September 8 and the matter will be heard on September 9.