Coal India , the world's largest coal miner, cut prices
on Monday, a move that may weigh on the state-run company's revenue, the Mint
newspaper reported on Tuesday, citing a senior government official.
“The exercise of reviewing the prices has been done.
There is definitely a reduction,” the newspaper quoted Alok Perti, coal
secretary, as saying after a board meeting of the company. “Probably there
could be a reduction in the revenue.”
Coal India will implement a new pricing mechanism by the
month-end but will ensure this will not result in higher prices for power
producers, federal coal minister Sriprakash Jaiswal had said last week.
Source: Moneycontrol
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