Coal India Ltd (CIL) today said its revised production target of 440 million tonnes

RELATED ARTICLES CIL to intimate govt on exit from ICVL next week M-cap of 7 firms down by Rs 27,649 cr; CIL takes biggest hit CIL ex-chief N K Jha joins SAIL as technical advisor M-cap of top 10 companies drops by Rs 58,797 cr; CIL biggest loser Let CIL e-auction surplus coal of captive mines

(MT) for 2011-12 can only be achieved if the output of the public sector firm grows by 10 per cent on average in the remaining months of the current fiscal.

"In the coming three months, we will have to grow by, on an average, 10 per cent so that we are able to achieve our revised target," CIL CMD N C Jha told reporters on the sidelines of a seminar here.

The company attributed the production growth of 7.5 per cent in the current month to conducive climatic conditions.

"In spite of so much of restrictions we are growing. Barring monsoon months, we are growing. In November, we grew by 5.5 per cent," the CMD said.

"Even during the beginning of the year, we had a growth of about 4.2 per cent. Then the heat conditions developed in May, so the growth reduced. Earlier onset of monsoons made the growth negative. July was quite good... We had a positive growth," he added.

"August and September were excessively bad, we had a highly negative growth. October was an after-effect of drowned mines (growth was minus 8.5 per cent)," he added.

The Chairman also exuded confidence that a decision on revision of the wages of employees of the public sector firm would be taken in an upcoming meeting between the management and workers' unions next month.

"On wage revision, the meeting would be held on January 10 and there we will take a view. I am hopeful that from meeting, which is for three days, some decision would come. But this all depends on the mutual understanding of the trade unions and the management," he said.

Earlier, CIL had said that it has drawn up fresh action plans to meet its revised production target for the current financial year.

The production target of the public sector firm, which was initially fixed at 452 MT at the beginning of the financial year, was scaled down to 440 MT about a month back.