Coal news and updates

Coal sector has improved its system to curb corruption by introducing GPS-enable trucks to carry coal from mines to destination and geo-fencing their land to counter theft of the valuable natural resource, the Central Vigilance Commissioner said today.

 

The Central Vigilance Commission (CVC) had taken up "preventive vigilance" as the theme for Vigilance Awareness week in 2015 to suggest government offices and public sector undertakings to bring in changes in their system to reduce scope of corrupt practices.

 

When asked which organisations were most receptive to the ideas of CVC in bringing transparency and introducing anti-corruption measures, Central Vigilance Commissioner K V Chowdary said Coal sector, followed by banks and insurance.

 

He said trucks carrying loads of coal from mines etc. are now being fitted with GPS to track their route, and if they divert from their scheduled path and alter their route, action is taken, making pilferage and resulting corruption difficult.

 

The Commissioner also said the coal sector companies have introduced geo-fencing of their land to demarcate their boundary clearly thus disallowing any attempts to illegally mine valuable natural resources.

 

Launching "Vigilance Awareness Week" here today for the year 2016, Chowdary said banks too have learnt lessons and introduced changes in their Standard Operating Procedures to report frauds.

 

He also said lot of changes have been observed in the claims and audit section of insurance companies to reduce corruption.

 

The coal sector was hit by reports of large scale corruption in allocation of coal blocks, with Comptroller and Auditor General of India (CAG) claiming losses to be in the tune of about Rs 1.86 lakh crore.

SOurce:energy.economictimes.indiatimes.com