Wednesday, March 16,
Coal India yet again projected to increase coal prices during July –august .Last month on 27th feb CIL approved revision in coal prices by an average 12% and due to this revision of coal prices, CIL would generate approximate additional revenue of Rs 6.5 billion in 2010-11 and Rs 62 billion in 2011-12.*
“The average 12% hike in coal prices last February would fetch CIL additional revenues of 6,000 crore a year. This is just enough to cover inflation and salary hike in 2010. After another round of wage negotiations, we will need to raise prices again,” said CIL chairman N C Jha.
The sectors which were spared from earlier price hike are targeted this time including power sector. Coal giant has decided to increase prices every 18-20 months after this hike.
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