Auction not the only way for natural resources allocation: CCI

October 21, 2012 16:49

Amid continuing debate over ways to award scarce natural resources, Competition Commission chief Ashok Chawla has said auction is not the only method for their allocation, but is a preferred way to ensure transparency.

A panel headed by Chawla, a former finance secretary, had submitted its report on natural resources to the government last year.

"Our committee has nowhere said that the auction is the only method for allocation, our general philosophy was, transparency (is) paramount at whatever you do. Whatever resource you allocate through whatever method, transparency cannot be compromised," Chawla told television channel NDTV Profit in an interview.

"...auction is preferred mode for auction of natural resources but it cannot be and shouldn't be the only way of allocation because there are natural resources where the public policy considerations would be more prominent and strong than commercial," he noted.

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