CAG pulls up NALCO for poor performance

The Comptroller and Auditor General (CAG) has hauled up state-run aluminium maker National Aluminium Company Limited (NALCO) for its sub-optimal operations and inordinate delays in developing coal mines allotted to it by the government, which had consequently resulted in a loss of earnings.

In its report tabled in the Parliament on Wednesday, the CAG stated that the company wasted an opportunity of earning contributions amounting to `1,086.63 crore because of lower aluminium production, by around 4.93 lakh tonnes, during 2012-13 to 2016-17.It may be recalled that the government had allotted Utkal E block at Talcher, Odisha to Nalco in 2014 to meet the additional requirement of coal for captive power production due to its capacity expansion from 960 MW to 1,200 MW.