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Cabinet ends CIL monopoly, allows mining by private firms

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New Delhi, Feb 20 (IANS) In the most significant move involving the Indian coal sector since its nationalisation in 1973, the Union Cabinet on Tuesday decided to end the monopoly status of state-miner Coal India Ltd (CIL) by opening commercial mining for the private sector.

Railway and Coal Minister Piyush Goyal told reporters here after a Cabinet meeting that it had approved the methodology for auctioning coal mines to private companies in order to bring efficiency into the sector.

“The government has taken several measures in the coal sector, which will enhance competition in the system, bring efficiency in coal production, reduce coal import, save foreign exchange and generate job opportunities for the people,” Goyal said.

As per the new methodology, the auction would be held as forward bidding on an online transparent platform, he said.

According to an official statement, the methodology gives highest priority to transparency, ease of doing business and ensuring the use of natural resources for national development.

“There will no end-use and price restriction. It would be up to the players to bring down the prices in open market,” the Minister said.

The government’s decision will now allow both domestic and foreign companies to sell coal in the open market at market-determined prices.

Queried on the implications for Coal India, which has enjoyed near-monopoly for over 40 years, Goyal said commercial mining would also help the state miner because competition would help improve efficiency of all stakeholders.

“The quality of coal would improve and imports would come down. We want India to be self-sufficient in coal. The move aims to improve ease of doing business in India,” he said.

Goyal further said the revenue generated from coal mining would go to the mine-bearing states, while the Centre would not have any share in this income.

The government had already enabled some commercial mining earlier through the Coal Ordinance (Special Provisions), 2014. The Centre had then auctioned 29 mines to private companies and states for captive use in power, steel and aluminium industries.

A Coal Ministry statement said on Tuesday: “The auction will be an ascending forward auction, whereby the bid parameter will be the price offer in Rs/tonne which will be paid to the state government on the actual production of coal.

“There shall be no restriction on the sale and/or utilisation of coal from the coal mine.”

Coal-fired power plants in the country are currently facing acute fuel shortage. According to Central Electricity Authority (CEA) data, as of February 6, six plants had less than seven days of coal stock, while 14 others had fuel for less than four days’ use.

In this situation, while domestic production growth has been flat, coal imports have gone up sharply. Coal India’s production during the April 2017-January 2018 period has grown by just 1.6 per cent.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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