The Hindu Business Line : CPI-M wants Govt to annul 15% coal price hike

NEW DELHI: The CPI(M) on Wednesday demanded in Lok Sabha immediate withdrawal of the 15 per cent hike in the price of coal and sought creation of a regulatory authority to deal with prices and supplies to industries.

Raising the matter during the Zero Hour, party MPs Mr Bangshagopal Chowdhury and Mr Saidul Haque said the increase in coal prices would affect large sections of people besides small and medium industries.

Referring to shortage of coal supplies to the industry, Mr Chowdhury said while illegal mining was a major cause of the scarcity, the underground fires raging in large tracts of coal mines in Jharkhand and West Bengal was causing “massive loss” of rich n atural resources.

Noting that the coal price has been hiked from Rs 2,000 to Rs 2,300 per tonne, Mr Haque said it was “illogical” to raise the price as Coal India Ltd had posted Rs 5,400 crore profit and had a saving balance of Rs 30,000 crore.

Both Mr Chowdhury and Mr Haque also opposed the Government’s decision to import coal, saying lifting of coal should be increased in an organised manner.

They also wanted the Government to amend the coal supply policy and set up a regulatory authority to deal with all related issues. — PTI

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