Ficci hails Goyal's move to address coal-related issues

Tags: News
Hailing Power Minister Piyush Goyal's move to address issues pertaining to availability and quality of coal, Ficci today said steps like reducing the fuel for e-auction and streamlining environmental clearances with time-bound approvals will help increase supplies.

"While moves like reducing coal for e-auction could ramp up supplies in the short-term, streamlining the processes of environmental and forest clearances with time-bound approvals and ensuring better coordination with Railways will help in increasing supplies in the medium-term," the industry body said.

Power Minister Piyush Goyal had yesterday asked Coal India to raise production from existing mines and reduce the quantity offered in e-auctions so that utilities can get more supplies of the fuel.

"CIL has played a critical role in meeting the growing coal needs of the country. However, the past few years have seen an increasing gap between the demand and supply of the fuel leading to the present crisis in the power sector.

"Capacity building, technology interventions and new investments are required to reverse the current state of coal production," Ficci said.

The country's power generation has suffered as Coal India (CIL) has been unable to meet production targets for reasons such as delayed approvals for new mines. Importing coal to make up for the shortfall is more expensive and utilities are not always able to pass on the costs to consumers.

Coal India, the world's largest coal producer, sells about seven per cent of its production through e-auctions, where smaller, non-power users walk away with most supplies as electricity generation companies do not bid aggressively in view of tariff caps.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Not the best gift for Modi, but bypoll result may not affect BJP in long run

    In India’s hardball political landscape, there is little place for anyone to rest on their laurels, not the least if you are a successful prime mini

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Scientific and field level know-how

Recently addressing the scientists of the Indian Council of Agricultural ...

Rajgopal Nidamboor

How synchronous empathy helps us

All of us are in an undulating ‘hypnotic’ state. A ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture