State-run miner Coal India will soon decide on correction of
prices of the dry fuel as its new pricing mechanism has led to more than
required hike in rates of the fossil fuel.
The decision was taken in a review meeting of the coal ministry held late last
week.
“In the review meeting it was decided that the price correction will be
done. Coal India board will very soon decide on the correction of prices,”
a top official in the Coal Ministry said.
Last week, Coal Minister Sriprakash Jaiswal had said that that Coal India's new
pricing mechanism will be reviewed on January 20 and will come out with a
solution in the next seven days so that the increase in rates is not more than
required.
“Price fixed by them (CIL), in my opinion, is more than required,”
Jaiswal had said.
“This (the new pricing mechanism) will be reviewed on January 20. We will
come out with a solution within a week of the review, so that there should not
be overall price increase or the increase should not be more than required, if
it is necessary for certain grades (of coal),” he had said.
Clarifying that GCV based pricing for coal will not called off, he said that
variation in prices would be reviewed.
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