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Tuesday
July 2019
1:32 PM IST
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Business News
Mining blocks to be allotted via e-auction only: J&K
 
Jammu:In a significant decision, Jammu and Kashmir Governor administration Thursday declared e-auction as the only method for the allocation of mining blocks in the state with immediate effect. Accordingly, SRO 161 has been issued to amend the J&K Mineral Rules specifying e-auction as the only route available for allocation of mining blocks, an official spokesman said.

Principal Secretary, Industries and Commerce department, Navin K Choudhary, emphasised that the allocation of mining blocks in the past have not been without controversy as initially first come first serve process was adopted. Even in case of open auction, there were allegations of unfair practices adopted by way of intimidation to thwart the genuine auction process, he said.

"The new practice of e-auction will result in the highest degree of transparency and as a result, substantial increase in revenue for the government," he said.


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