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Badal Sanyal

KOLKATA, May 3

COAL India Ltd (CIL) has deferred its move to revise coal prices till such time the company's board okays it. This suggests that the existing prices of all grades of coking and non-coking coal will remain unchanged till further notice.

The CIL board was to discuss the price revision agenda at its meeting scheduled on April 26 but the meeting was postponed. It was decided that the meeting would be held on May 3 but it is again postponed without assigning any reason.

The next date for the CIL board meeting is yet to be finalised thereby leaving the scope to speculate whether the Union Ministry of Coal and Mines is still serious about introducing "uniform prices of all grades of coal for consumers in the core and non-core sectors even after the resignation of Mr Ram Vilas Paswan from the same Ministry as Cabinet Minister. It may be mentioned that Mr Paswan had asked CIL last month to introduce uniform coal prices for core and non-core sectors consumers within a month.

Incidentally, the central market division of CIL, on completion of the price revision process, recently prepared a draft proposal for informal discussion by the CIL board. Confirming the company's price revision move, CIL's Marketing Director, Mr Sashi Kumar, had told Business Line that the exercise was overdue since all production subsidiaries of CIL, except Eastern Coalfields Ltd (ECL), had last increased prices in February 2001.

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