"Coal India Ltd (CIL) would launch a new Performance Management System (PMS)... For all executives. This said PMS will be implemented from the financial year 2013-14," Coal India Chairman and Managing Director (CMD) S Narsing Rao said in a letter to employees.
"As per the directives of DPE...It was a mandate provided to all the CPSEs to introduce and develop a robust & transparent performance management system," the CMD said.
The new appraisal system comes at a time when the company is expected to miss the production target for the current fiscal. The new appraisal system is expected to boost production in Coal India, which accounts for over 80 per cent of the domestic coal production.
CIL has a production target of 464 million tonnes (MT) for FY'13. It is likely to end the fiscal with 452 MT of output.
CIL missed its revised production target in the last fiscal as it achieved only 435.84 MT against its revised target of 447 MT.