CIL has imposed additional charge of INR 50/MT on domestic coal, for all customers except those who are availing rapid loading facility.
The additional cost would be imposed under the title of evacuation charges and is made effective from 20 Dec’17.
At present, the average coal price supplied by CIL is assessed at INR 1500/MT, and the addition of new charge is set to increase prices by 3.3%.
Officials from CIL have estimated that the Evacuation charge would generate INR 2500 Crore per year. While it would provide an additional revenue of INR 800 Crore from coal prices for the remaining three months of current fiscal FY18.
CIL is also planning to increase basic coal prices in order to compensate the loss incurred on wage settlement in employee cost.
The company’s consolidated profit after Q2FY18 had fell 40% to INR 368.88 Crore compared with INR 612.44 Crore in the corresponding quarter last fiscal, majorly due to the provision of INR 2300.87 Crore made towards wage settlement in employee costs.
CIL’s coal price include base price plus fixed charges including Royalty, DMF, NMET, Compensation cess, GST 5% and several miscellaneous charges of Sizing charge, Forest Tax, Silo charges, Vikash Upkar etc.
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