Coal India didn’t hike domestic coal price despite unprecedented rate hike globally: Joshi

Coal India Limited (CIL) did not increase the price of the domestic dry fuel in spite of the unprecedented rise in the global price of coal, Minister for Coal Pralhad Joshi said

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Coal India didn't hike domestic coal price despite unprecedented rate hike globally: Joshi

New Delhi: State-owned Coal India Limited (CIL) did not increase the price of the domestic dry fuel in spite of the unprecedented rise in the global price of coal, Minister for Coal Pralhad Joshi said on Monday. Coal India, which accounts for over 80 percent of the domestic coal output, boosted its production considerably in the recent past and managed to overcome the shortage of dry fuel faced by thermal power plants, Joshi said.

Joshi urges PSUs to compete with private sector

While addressing the National Coal Conclave & Exhibition-2022, the minister urged PSUs to compete with the private sector in coal mine auction and early production. Efforts are in full swing to stop the import of thermal coal by 2024 and incentives are being given for early production from the coal blocks given through commercial mine auction.

Coal India ups output 20% in H1 FY23, surpasses offtake target

The minister also stated that 64 coal mines have been auctioned so far under commercial auction which was launched in 2020.

During the conclave, the government executed agreements with 10 bidders of coal mines.

The total annual revenue generation from these blocks is estimated at Rs 1,077.67 crore considering production at aggregated peak rate capacity level of 10.39 million tonnes per annum.

Once fully operational, these mines are likely to generate employment for 14,047 persons directly and indirectly.

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