Latest News | CIL Didn't Hike Domestic Coal Price Despite Unprecedented Rate Hike Globally: Govt
Get latest articles and stories on Latest News at LatestLY. State-owned CIL did not increase the price of domestic dry fuel in spite of the unprecedented rise in the global price of coal, the government on Monday said.
New Delhi, Oct 17 (PTI) State-owned CIL did not increase the price of domestic dry fuel in spite of the unprecedented rise in the global price of coal, the government on Monday said.
Coal India (CIL), which accounts for over 80 per cent of domestic coal output, boosted its production considerably in the recent past and managed to overcome shortage of dry fuel faced by thermal power plants, coal minister Pralhad Joshi said.
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While addressing the National Coal Conclave & Exhibition-2022 here, the minister urged the public sector undertakings to compete with the private sector in coal mine auction and early production.
Efforts, he said, are in full swing to stop import of thermal coal by 2024 and incentives are being given for early production from the coal blocks given through commercial mine auction.
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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)