The Hindu Business Line : Don't be scared of targets, SECL officials told

"THE threat of privatisation is hanging around the neck of the domestic coal industry'', which has for long been dominated by the State-owned coal companies, particularly since the nationalisation of the industry in phases between 1972 and 1974.

Making this observation during his recent surprise visit to South Eastern Coalfields Ltd (SECL), the largest coal producing and profit-making subsidiary of Coal India Ltd, Mr N.K. Sharma, Chairman of CIL, is reported to have advised SECL executives not to describe targets as tough. Much more important was to achieve them, especially in the present scenario where the threat of privatisation was looming large.

Mr Sharma's observation assumes significance particularly in the context of the central trade unions operating in the public sector coal companies threatening to go on a seven-day strike in protest against the Centre's move to further amend the Coal Mines Nationalisation Act, which would allow private investors to hold more than 50 per cent equity shares in any coal mining project.

While reviewing the ongoing projects of SECL for the tenth and eleventh plans, according to a SECL press note, Mr Sharma suggested that work on projects and planning should be speeded up so that targets could be achieved within the stipulated timeframe.

He also laid stress on the need to adopt new technology in underground mines.

The press note said Mr Sharma had enquired about the prospects of achieving expected higher production from the new projects and had suggested that a special "monitoring committee'' should be set up on different projects for proper co-ordination with different departments.

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