New Delhi: Shri Pralhad Joshi, Minister of Mines and coal reviewed the Covid Coal Package of Coal India Limited (CIL), NCL India Limited, and SCCL. As a market-friendly move by the coal companies, the benefit of Usance LC & increased trigger level (80%) shall be made permanent while waiving the Performance Incentive (PI) extended till March 2021.
Shri Joshi said, “I congratulate the Coal PSUs for extending around Rs. 3700 crores benefits to the consumers on account of Covid Package so far. Their praiseworthy efforts to increase the availability of indigenous coal have helped bring down its import by 35%.”
He also directed Coal India limited to make reforms in its coal auction methodology to remove the multiplicity of prices and discretion at lower levels. Studies will be done to suggest ways to reduce the coal imported by the Non-Regulated Sector and to find out the possibility of giving consumers the flexibility on the mode of coal transportation.
