Do not wind up Coal India Ltd’s subordinate offices in Kolkata, CM Mamata Banerjee wrote to Prime Minister Modi. (File)
Chief Minister Mamata Banerjee has written to Prime Minister Narendra Modi, opposing the Centre’s decision to allow 100 per cent Foreign Direct Investment (FDI) in coal mining.
In the letter written on Thursday, Banerjee urged Modi to “reconsider the decision of allowing 100% FDI in the coal sector”, and requested him to intervene and advise the Ministry of Coal not to wind up Coal India Ltd’s subordinate offices in Kolkata.
“I express my serious reservation on this policy announcement on cogent grounds. This policy can neither bring foreign direct investments nor can it bring technologies or knowhow which we are unable to access today. The recent trend and empirical evidence clearly showcase the interest of global investors more in renewable energy projects as compared to coal mining projects. In fact, research suggests that about 100 global financial institutions have divested their thermal coal investments. Therefore, FDI in thermal coal is a far cry,” wrote the Chief Minister.
She pointed out that 80 per cent of coal was available in the eastern India. “That is why Coal India Limited, the major central public sector undertaking, has been functioning with its headquarters located in Kolkata. The recent abrupt decision to shift the desk offices of four of its subsidiary companies, namely Bharat Coking Coal Ltd (BCCl), Central Coalfields Limited (CCL), South Eastern Coalfields Ltd. (SECL), and Mahanadi Coalfields Ltd (MCL) from Kolkata to their respective headquarters in other areas will be extremely detrimental to the interests of all stakeholders of the coal sector, including the employees,” Banerjee added.
Two weeks back, the Chief Minister had written to Modi, opposing the draft Electricity Amendment Bill, 2020. She requested him to revoke such an “anti-people bill”, calling the draft law a threat to India’s federal structure.