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Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA


PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raising the domestic selling price, which are one third the global levels now.

Mr Sriprakash Jaiswal coal minister said ‘‘Domestic coal prices are much lower than the market price. We will take up with the Prime Minister the issue of increasing coal prices after the Budget session of Parliament."

Mr Jaiswal said that “The low level of coal prices, which were last revised in 2007, also affected the financial position of Coal India Limited, in which Mr Jaiswal is seeking up to 10% disinvestment. Domestic coal prices are almost one-third the rates prevailing in the international market at about USD 25 tonne.”

Source: Steel Guru



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