CIL liquidates 35 MT of coal from its pithead stock

Kolkata: State-run Coal India Limited (CIL), a Maharatna PSU under the Ministry of Coal, has liquidated 35 Million Tonnes (MT) of coal from its pithead stock in the first half of the current fiscal 2019-20, Coal Minister Pralhad Joshi informed the Rajya Sabha on Monday.

"The pithead coal stock with CIL was 54.15 Million Tonne (MT), as on April 1, which reduced to 19.15 MT as on September 30. Thus, the coal stock liquidation was 35 MT in the first half of the financial year 2019-20," the Coal Minister said in a reply to the Rajya Sabha.

The minister also informed the Upper House that CIL's coal production rose by 10.
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6 percent in the first half of Financial Year 2018-19 to 256.47 MT as against 231.88 MT produced in the corresponding period of financial year 2017-18.

In a reply submitted in the Upper House, the minister also informed that India's coal production grew by 8.14 percent to 730.35 MT in FY 2018-19 in comparison to 675.40 MT of coal produced in the county in FY 2017-18.

Responding to another question in the Rajya Sabha, the minister said that 319 billion tonnes of geological reserves of coal have been estimated to be in India so far as on April 1, 2018.

24% drop in coal production

Coal India had recorded a 24 percent drop in coal production in September 2019, when compared to the corresponding period a year ago. According to a stock exchange filing, shipments dropped 20 percent to 35.18 million tonnes, the lowest in five years.

1 billion tonnes of coal target by FY24

However, the government has set a coal production target of 750 MT for CIL by financial year 2020-21 and 1 BT of coal by financial year 2023-24