In order to ensure that INR 6000 crore earmarked for acquiring mines by Coal India abroad does not remain unutilized a Parliamentary Panel has asked the coal ministry to fast track the acquisition process.

It has also asked the ministry to expedite the tendering process for acquisition of coal blocks in countries such as Australia, USA and Indonesia.

The Panel has also asked the government to constitute a dedicated team of Coal India Ltd to expedite the process of production of dry fuel from overseas mines.

Standing Committee on Coal and Steel has said in its recent report that "What is really needed is to accelerate the completion of various exploratory works to ensure early production from such mines, so that outlay earmarked does not remain unutilized.”

It added that "The committee would also like the ministry to expedite the tendering process for acquiring coal blocks in Australia, Indonesia, South Africa and USA.”

(Sourced from Economic Times)