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Ambarish Mukherjee

New Delhi , Feb. 21

THE Finance Ministry has asked Coal India Ltd (CIL) to pay Rs 800 crore as dividend for fiscal 2005-06 before the end of the current financial year. Of this the Ministry has asked for Rs 600 crore as special dividend and another Rs 200 crore as interim dividend, sources said.

The move follows CIL's improved financial performance during the year, despite a substantial surge in outstanding dues during January.

Total outstanding dues at January-end was Rs 3,405.56 crore compared to Rs 3,173.33 crore during end-December.

Total dues from the power sector stood at Rs 3,009.64 crore, dues from the steel sector at Rs 428.64 crore and others at Rs 32.42 crore.

Meanwhile, CIL's request for `Mini Ratna' status for five of its subsidiaries is still pending with the Ministry. Official sources hinted that a decision was unlikely during the current fiscal.

The Ministry has also formally cleared the incorporation of Coal Videsh Ltd through which CIL proposes to acquire coal blocks abroad in line with the ONGC Videsh model.

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