Noticing irregularities in coking coal purchases, the Steel Ministry has set up a committee to look into the rationale behind PSUs buying more of the commodity when it is expensive, and less of it when cheaper.
“We have noticed few aberrations in coking coal purchase. When rates of coking coal are high (in the international market), the purchases increase and when the prices go down, purchases also go down. That's why we have constituted this committee to find out why this happens. Is this a deliberate act or what?” said Mr Verma, Union steel minister of India
He said the committee, constituted to scrutinise the coking coal procurements by the firms under jurisdiction of the steel ministry like SAIL and RINL, headed by an Additional Secretary, would submit its report by December.
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