The company produced 102.4 million tonnes (MT) of coal in the April-June period against 96.3 MT for the same period last financial year.
“Production had been hampered due to rains. However, we are confident of achieving the target of annual 470 million tonnes in 2012-13,” CIL Chairman S Narsing Rao said. Production target for the second quarter is 113 million tonnes, he added.
CIL in its last board meeting had agreed to paying penalty between 1.5 per cent and 40 per cent on failing to supply the committed quantity of the fuel to power firms.
On price-pooling, Rao said if it is implemented, all the power consumers would have to bear the impact, adding that however, it should be neutral to CIL.
CIL supplied 91.4 per cent of aggregate coal against average contract quantity of not more than 90 per cent and therefore, Rao said, adding that the coal major should not be blamed for the coal shortage in power plants during the April-June quarter.
Source: PTI
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