Coal news and updates

MoC extends stakeholder’s royalty views deadline

March 17: Having receiving only a few responses on the issue of royalty from the stakeholders (state and central ministries and departments and chambers of commerce) till the stipulated deadline of February 28, 2015, the Ministry of Coal (MoC) has extended the deadline to March 25, 2015 for receipt of views and comments.

“It has been observed that only a few stakeholders have responded to the questionnaire. As the views/comments of the stakeholders are required to be placed before the Study Group for its consideration, it is, therefore, again requested to send the same within March 25 positively,” said a letter from the ministry to all stakeholders.

The ministry had earlier sent a letter to the stakeholders on February 12, 2015 asking them to submit their views by February 28.

Among others, the stakeholders were asked to reply on what should be the criteria for fixing rates of royalty, whether they think the current rates are appropriate and indicate the rates, what is the period before which the royalty rates should be revised to provide stability with particular reference to ad valorem rates.

The ministry also wanted to know from the stakeholders whether the guidelines for computing royalty on ad valorem basis notified on May 10, 2012 are comprehensive.