The government is set to follow the country's existing land acquisition act to acquire required land and pay compensation money to the people displaced from the mining sites to ensure smooth development of coalmines and its subsequent utilisation, officials said.
"The ministry is reviewing the prospect for application of the act to compensate the victims as it was done while constructing the country's largest bridge project -- The Jamuna Multipurpose Bridge -- over the river Jamuna," energy secretary Mohammad Mohsin told the FE Sunday.
He said for managing environmental and social issues, the government might adopt the globally accepted 'equator principles' guideline.
'Equator principles' would help safeguarding environment and managing social risks efficiently, the official said.
The energy ministry, which has almost finalised the country's first-ever national coal policy, will hold several inter-ministerial meetings this week before finalisation of the coal policy.
Sources said Khani Bangla, an entity under the state-owned Petrobangla would be given the responsibility to look after the developments of coal and other issues relevant to country's mines and minerals.
The advisory committee for finalising the draft coal policy in January last proposed formation of a separate company named 'Coal Bangla' to oversee and monitor the coalmine development activities.
As formation of a new company is time consuming and it might create extra-pressure on government revenue, the energy ministry has planned to shoulder the responsibility of the proposed 'Khani Bangla'.
Besides, Petrobangla has the capacity to look after the coal issues as it is already overseeing the issues of mines and minerals through a department, said a senior Petrobangla official.
Foreign companies might be allowed to develop country's coalmines under the coal policy but it might be through a joint venture with the proposed state-owned entity 'Khani Bangla'.
No foreign companies would be permitted to develop coalmine independently.
Like elsewhere in the world coalmines in Bangladesh can be developed by either open pit or underground method.
But the mining method should be determined on the basis of geological structure and reserve potentials, energy ministry sources said.
A Coal Sector Development Committee comprising professionals from all walks would be constituted for smooth operation of coalmines and relevant activities.
Flotation of 20 per cent shares of the coalmining companies might be made mandatory in the stock markets.
There will be no option of coal export other than 'cocking coal' in the coal policy.
Cocking coal is a kind of coal especially used in steel manufacturing plants.
Setting up coal-fired power plant at the mine mouth might be made mandatory under the national coal policy.
