One-time window to PSUs for surrendering non-operational mines

The authorities on Friday stated it has authorised a proposal to offer a one-time window to public sector undertakings to give up coal mines that aren’t in operations with none penalty.

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi authorised the proposal throughout its assembly on Friday, the coal ministry stated in an announcement.

The CCEA “has approved the Ministry of Coal’s proposal for providing a one-time window to the Central and State PSUs to surrender non-operational mines without penalty (forfeiture of bank guarantee) and without citing any reason,” the assertion stated.

This could launch many coal mines which the current authorities firms usually are not ready to develop or are disinterested and may very well be put on the market as per the current public sale coverage of the federal government.

The authorities firms could be given three months to give up the coal mines from the date of publication of the authorised give up coverage. WITH PTI