Pay scales of Coal India’s 17,000-odd executives — from junior levels right up to chairman’s post — are proposed to be more than doubled, although the increase would be smaller after accounting for the dearness allowance already being paid on top of the basic salary.
Coal India (CIL) is likely to hike the salaries of executives in the next two months, a move that will result in an additional annual outgo of Rs 1,000 crore, its chief Gopal Singh said today.
Coal India has planned several meetings with its customers to address their concerns over the new pricing policy which is coming into force from the first week of April, its chairman Gopal Singh said.
Coal India is producing about 2.3 million tons per day whereas the offtake on best effort basis is about 1.9 million tons because of logistics, says Gopal Singh, CMD, in an interview with ET Now,
Daily Pioneer reported that Coal India Chairman cum CMD, CCL, Mr Gopal Singh, was honoured with ‘Leadership Award’ during the ‘National Power Summit -2018’ held in Hyderabad on February 09.
Coal India’s new pricing policy, which involves selling coal on the basis of total energy content in each consignment, is expected to bring down cost of power generation that would be passed on to consumers, said executives from the company.
State-owned Coal India Ltd (CIL) hiked thermal coal prices for both power and non- power consumers with immediate effect, a decision which electricity producers said would jack up energy prices by up to Rs 0.50 per unit.
State-owned miner Coal India has assured coal availability to power industry body ICPPA, whose members include firms from steel and aluminium segment, as they are heavily dependent on the dry fuel.
Industry body Indian Captive Power Producers Association (ICPPA) is protesting against a new “Evacuation Facility” charge of Rs 50 per tonne introduce by state-run miner Coal India Ltd (CIL) for coal supply to power generators.
Coal India is going to “legally” examine the show cause notices issued by the Odisha government to its subsidiary – Mahanadi Coalfields Ltd – carrying penalty of Rs 20,169 crore for violating mining plans, environmental norms and other regulations, a top company official said on Wednesday.