Former Coal India Limited (CIL) Chairman MP Narayanan batted in favour of throwing open the coal sector in the country. He said that CIL had done a stellar job of ramping up coal production to 535 million tonnes in the last fiscal and private producers could add to the same.
While speaking to News World India, Narayanan said that all over the world countries allot coal mines to companies who are competent to mine them. Also, no country in the world auctions its coal except for India. Though some other countries too have evinced interest in the idea.
When Narayanan was asked that coal would be relevant for only the next three to four decades, and India had only so much time to derive maximum benefit from such resource, Narayanan opined that till the 1970s when coal mining was nationalized, the private coal miners then were very rudimentary, but today there are world class companies with advanced technology who spend billions of dollars on developing coal mines.
Narayanan also agreed that time has come to do away with end use restrictions and said that an open sector benefits everyone. When asked as to what does he feel of private companies who had taken over mines that CIL rejected and turned them around, Narayanan opined that indeed private sector had done a very good job of mining coal by deploying advanced technology towards good ends.