Government May Allow Surrender Of Unused Coal Blocks
NDTV
Coal Ministry is mulling a plan where it would allow entities holding dry fuel blocks, to surrender them if they are not in a position to develop them
The Coal Ministry is mulling a plan where it would allow entities holding dry fuel blocks, to surrender them if they are not in a position to develop them due to technical issues. This will help the government to fast track production from these surrendered reserves.
This will be done by immediately putting up the surrendered reserves on auction for commercial mining.
In addition to this, companies holding coal blocks which they are not able to develop, will be allowed to surrender them without paying any financial penalty after their proposals are scrutinised by a committee, the ministry has said.
As per its agenda for the current financial year (2021-22) released last week, the ministry said that the plan will be prepared soon.
