Coal news and updates

Dismayed that world's largest coal miner CIL could spend barely 15 per cent of the funds earmarked for corporate social responsibility (CSR), a parliamentary panel has recommended that officials responsible

 for it must be made accountable.

 

 "Out of allotment of Rs. 553.33 crore in 2011-12 for CSR activities, Coal India (CIL) and its subsidiaries could spend only Rs. 82 crore and the same was, therefore, gross failure of duty on part of the company and its subsidiaries," Standing Committee on Coal and Steel, headed by Kalyan Banerjee has said in its latest report.

 

 The Committee has said that although the Coal Ministry has replied that they have intentions to spend the money for CSR activities but in reality it seems that they do not have serious intention to spend it.

 

 "While pointing out to the callous attitude of the Ministry towards CSR spending, the Committee were of the view that the officers-in-charge of spending money on CSR activities must be made accountable for this failure to spend the CSR budget," it recommended.

 

 On Ministry's plea that there were certain constraints responsible behind non-utilisation of CSR funds, the Committee has not only sought the reasons from it but also has sought an action taken report against the officials responsible for it.

      

 The Committee also deplored the "slow action" of CIL with regard to preparing the action plan for identification and implementation of CSR projects.

      

 Coal India accounts for over 80 per cent of the domestic coal production.

 

 

Source: PTI