International Coal Ventures Ltd (ICVL), a consortium of infrastructure PSUs to acquire coal assets abroad, is in a bad shape. After NTPC, Coal India Ltd too is thinking of jumping the ship. CS Verma, Sail chairman, who is also the ICVL chief, is trying to keep the flock together with a promise to clinch at least one deal this fiscal. But will Verma?s overtures make NTPC and CIL change their decision? It looks unlikely given that the two companies are already hunting for coal assets on their own. After all, their coal requirement differs from Sail?s, which needs coking rather than thermal coal. The consortium was floated at the steel ministry’s initiative. But the mandarins forgot that it is a convergence of interests that drives collaboration, not administrative fiat.
Hiding and seeking
Union power secretary PK Sinha has kept away from the media after taking charge of the office recently. The grapevine has it that Sinha, who returned to the ministry after a long gap?he was in Shram Shakti Bhavan before 1993?is busy familiarising himself with the matters of the ministry. Of course, media handling is a tough job for power secretaries, given the sad state of the sector. We?re waiting, Mr Sinha, with tough questions, of course.
