Auction of 54 coal blocks impossible this year: Jaiswal

August 24, 2012 16:32

The government today said that the auction of 54 coal blocks would not be possible this year because of the long process involved in it. "It (the allocation of coal mines through competitive bidding route) would not be possible this year," Coal Minister Sriprakash Jaiswal said here.

"Our government believes in transparency. All the coal blocks (to be allocated through auction route) were identified," the minister added. He also said that once Crisil submits its report--on the methodology to determine the reserve price for auction of 54 mines the ministry has identified for allocation--the bidding process would begin.

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