PM should answer why coal blocks were not auctioned: Yechury | Latest News Delhi - Hindustan Times
close_game
close_game

PM should answer why coal blocks were not auctioned: Yechury

IANS | By, New Delhi
Aug 23, 2012 07:06 PM IST

Communist Party of India-Marxist (CPI-M) leader Sitaram Yechury said today that the CAG report showed that "crony capitalism of the worst order" was being practiced by the UPA government and demanded that the prime minister answer why the auction process for coal allocation was not adopted.

Communist Party of India-Marxist (CPI-M) leader Sitaram Yechury said on Thursday that the CAG report showed that "crony capitalism of the worst order" was being practiced by the UPA government and demanded that the Prime Minister answer why the auction process for coal allocation was not adopted.

HT Image
HT Image

Addressing media persons here, the CPI-M politburo member said the government auditor's report presented to Parliament shows that "crony capitalism of the worst order is being practiced by this Manmohan Singh government".

Hindustan Times - your fastest source for breaking news! Read now.

He termed as a "specious plea", the government maintaining that five state governments had opposed auctioning of coal blocks.

"The fact is that when the Prime Minister was holding the coal portfolio, the states said that since state electricity boards have to provide electricity to people, coal required for them should be set aside and the rest should be put through the competitive bidding process. But the government chose not to do that."

He said that Prime Minister Manmohan Singh should answer in Parliament why the transparent process of bidding was not implemented.

Yechury said those responsible for the loss to the exchequer should be pinpointed and action should be taken against them.

The government auditor's report has said that lack of transparency in allocation of coal blocks to private players had resulted in a loss of a whopping Rs. 1.85 lakh crore ($37 billion) to the exchequer.

Unveiling 'Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On