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Business EconomyPosted at: Jul 2 2020 8:54PM


Private players in coal sector is need of the hour-MCL CMD

Bhubaneswar, Jul 2 (UNI) Commercialization of coal is the need of the hour for the nation to bring down outflow of valuable foreign exchange, Chairman-cum-Managing Director, Mahanadi Coalfields Limited (MCL) B N Shukla, said.
The liberalization of the coal sector will not have any impact on Coal India which has sufficient reserves, Mr Shukla said while appealing to the striking employees and their leadership to resume operations.
He said “at the time when the country is facing COVID-19 pandemic and threat from neighboring countries, we are required to stay united in the interest of the nation.”
The MCL CMD said producing one billion tonne coal for the country by 2023-24 was an uphill task for Coal India, and private players would supplement Coal India’s production for bridging the energy deficit.
Moreover, commercialisation of coal mining in India is the need of the hour to swiftly enhance coal production to meet the growing energy requirement, he said.
Mr Shukla further said no government company had shown interest to take up the offered coal blocks since they are very difficult to mine.
The Coal Ministry, he said, has also clarified that there is full thrust on Coal India to achieve 1,000 million tonne dry fuel production by 2023-24.
India is importing about 250 million tonne, including 40 to 50 million tonne coking coal, for meeting its energy demand and paying Rs 1.5 lakh crore in foreign currency, besides losing on DMF, royalty and employment to local people.
The Ministry, the MCL CMD has also clarified that there were no plans for privatization of Coal India or any of its subsidiaries.
Further, no coal block allotted to Coal India is being given to any private player.
He said “there is no reason which justifies this strike, the CMD urged striking employees to return to work without further delay."
Mining operations in Talcher Coal field of the MCL were paralysed today following a three day strike called by Central Trade Unions against the commercialisation of coal.
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