Splitting Coal India Limited could increase competition and hence make production more efficient, but opinion is building against it.
"Some more coal blocks would be de-allocated," Coal Minister Sriprakash Jaiswal told reporters after attending a meeting on infrastructure projects convened by Finance Minister P Chidambaram.
In an exclusive interview with CNN-IBN Editor-in-Chief Rajdeep Sardesai, Coal Minister Sriprakash Jaiswal assures to begin the process of de-allocation of coal blocks against the errant companies from September 16 while strongly defending the government policy.
Police on Monday registered a case against both Bharatiya Janata Party and Congress workers in connection with the violence outside Union Coal Minister Sriprakash Jaiswal's residence during the main opposition party's protest over the coal block allocation issue.
With the Opposition adamant on the cancellation of coal blocks, Prime Minister Manmohan Singh and Congress president Sonia Gandhi on Friday deliberated with the party top brass in the midst of the logjam in Parliament. Coal Minister Sriprakash Jaiswal was also called for the Congress Core Committee meeting and so were Law Minister Salman Khurshid and Telecom Minister Kapil Sibal.
Jaiswal said that auction of 54 coal blocks would not be possible this year because of the long process involved in it.
Union Coal Minister Sriprakash Jaiswal found himself at the centre of a controversy on Saturday over his sexist remark that wives lose charm over time, sparking an outrage among women's groups which dubbed the comment as "disgusting and derogatory".
The coal ministry is likely to begin next week issuing deallocation letters to private firms whose mines were cancelled and those where bank guarantees were deducted for sitting idle on mines given to them for captive use, Coal Minister Sriprakash Jaiswal on Monday said.
A direction is this regard was given on Wednesday after Finance Minister P Chidambaram and Coal Minister Sriprakash Jaiswal met in the presence of the secretaries of the Department of Economic Affairs and Coal Ministry
Accusing the Bharatiya Janata Party of spreading anarchy in the country on the coal block allocation issue, Coal Minister Sriprakash Jaiswal on Sunday said no one can force Prime Minister Manmohan Singh to resign till he enjoys the support of people.
On instructions from Congress president Sonia Gandhi, senior Union ministers were asked to brief Congress MPs on the allocation of coal blocks and the CAG report.
Congress leader Rahul Gandhi, who on Tuesday met those injured in the Kalka Mail accident at a hospital in Kanpur, pulled up railway officials after the victims complained that they had not received the promised compensation.During his nearly 40-minute visit to Hallett Hospital, Rahul, who was accompanied by Union Coal Minister Sriprakash Jaiswal and senior rail officials, inquired about the condition of those undergoing treatment in the Burns, Emergency and ICU wards.
Letters for deallocation of 13 private coal blocks to their owners are likely to be sent soon after the law ministry gives its go-ahead, Coal Minister Sriprakash Jaiswal said on Friday.
Justifying the Congress-led United Progressive Alliance government's proposed move of providing a sub-quota for minorities, a Union minister on Saturday said that condition of poor Muslims and Buddhists in the county was "worse" than Dalits.
Challenging Bharatiya Janata Party leaders to prove their allegations against him in the coal block allocation issue, Coal Minister Sriprakash Jaiswal on Tuesday said they were free to visit his office to collect any information.
Under attack from the Bharatiya Janata Party on the coal block allocation issue, the government on Tuesday said the policy followed by it in allotting the mines was "100 per cent correct" and those who resorted to wrongdoing will go to jail.
Prime Minister Manmohan Singh has asked Coal Minister Sriprakash Jaiswal to ensure that the report of the Inter Ministerial Group -- which is reviewing the allotments of coal blocks -- is on his table on September 16.
On a day he was promoted to the Cabinet rank, Union Coal Minister Sriprakash Jaiswal promised bringing about revolutionary changes in his ministry aimed at fast-tracking the coal reforms process.
Many power firms, including NTPC -- the largest consumer of Coal India -- have refused to sign the supply pacts as they are opposed to certain clauses like minimum assured supply and the penalty to be paid by the state-owned coal producer, in case it fails to meet the commitment.
Ray of hope for power, metal companies.
The government on Wednesday expressed disappointment over a French company snapping up Mahatma Gandhi's Johannesburg house, through Sotheby's auction firm, but said it will continue efforts to acquire the heritage property through a public sector company."The matter concerns national sentiment and I will leave no stone unturned to acquire the historic property and declare it a national monument," said Union Coal Minister Sriprakash Jaiswal.
Janata Dal - United members from Bihar on Wednesday forced the adjournment of the Lok Sabha over the issue of shortage of coal for thermal power plants in the state. As Coal Minister Sriprakash Jaiswal rose to reply to a member's query during Question Hour, JD-U members led by Dinesh Chandra Yadav trooped to the Well, raising slogans over the "step-motherly treatment" meted out to Bihar with regard to coal linkages for power plants.
As part of the energy sector reforms, government is trying to evolve a consensus on commercial mining of coal to promote development of the sector, Coal Minister Sriprakash Jaiswal said.
Says Coal India is ready to sign at 80% trigger level, with 15% imported coal on cost-plus model.
Coal Minister Sriprakash Jaiswal is credited with fast-tracking many issues that are caught in red-tape. The minister says the environment ministry's controversial policy barring mining in forest areas has left him troubled.
The government on Monday said it would decide next month the fate of captive coal blocks lying idle with 82 companies, including ArcelorMittal, Tata Steel and NTPC, who have been issued notices for not developing them within the stipulated time.
The Planning Commission had recently recommended leaving the coal prices to the market and allowing free trade of coal nationally and internationally. Although coal prices were deregulated in 2000, the rates are fixed by the coal PSUs under the guidance of the coal ministry.
Euphoric about India's biggest IPO, possibly to garner up to Rs 15,000 crore, from the world's largest coal producer CIL, Coal Minister Sriprakash Jaiswal on Friday said October is an "auspicious" month to launch the issue.
Indicating an end to the year-long tussle over the controversial no-go mining issue, Coal Minister Sriprakash Jaiswal on Thursday said the problem had been resolved.
The government on Tuesday advised investors to stay put with Coal India Ltd to multiply their fortunes and compared the strengths of the company with gold, which is considered the best long-term bet to create wealth.
Coal Minister Sriprakash Jaiswal on Thursday said mining should be allowed in 90 per cent of the areas classified as no-mining zones by the Environment Ministry and a proposal will be tabled before Cabinet soon, after ascertaining the views of different ministries.
The country's largest coal producer Coal India is likely to decide in 2-3 days on roping in anchor investors for its upcoming mega initial public offer, Coal Minister Sriprakash Jaiswal said here on Friday.
Aiming to garner over Rs 15,000 crore (Rs 150 billion) through the largest ever public offering in India, the government on Tuesday decided to price Coal India's IPO in the range of Rs 225-245 a share for divesting its 10 per cent stake.
Jaiswal's statement came after Coal India said its multi-billion dollars worth of projects could become unviable if prices were not hiked. The PSU is seeking a nominal increase in prices of its products which were marginally revised last in 2007.
Under attack for several files pertaining to coal block allocations going missing, Coal Minister Sriprakash Jaiswal said that he had asked officials to locate the missing papers by Tuesday and hinted the Central Bureau of Investigation may be asked to look into the case after that.
Bharatiya Janata Party's prime ministerial candidate Narendra Modi will start the party's general election campaign in Uttar Pradesh next month from the Congress bastions of Kanpur, Jhansi and Bahraich.
Home Minister Sushilkumar Shinde and his deputy Minister of State for Home RPN Singh on Wednesday rejected the allegation levelled by 2007 Ajmer blast accused Bhavesh Patel that they had pressured him to implicate top Rashtriya Swayamsevak Sangh functionaries in the case, saying they do not know him.
The Opposition on Monday vociferously raised in the Rajya Sabha the issue of crucial files of the coal ministry going missing, alleging that it was a conspiracy to save Prime Minister Manmohan Singh in the multi-crore-coal block allocation scam being probed by the Central Bureau of Investigation.
Congress Vice President Rahul Gandhi on Monday raked up the issue of terrorism to attack Bharatiya Janata Party, saying nearly 22,000 people died due to the menace during the NDA regime, while there were only 800 such deaths in the UPA's last five-year tenure.
Coming to the defence of Prime Minister Manmohan Singh, Union Coal Minister Sriprakash Jaiswal on Thursday said he does not need a certificate of honesty from anyone.
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