Department of Public Enterprise has opposed a coal ministry proposal to provide performance related pay (PRP) from consolidated funds to executives of CIL arms that made losses in the relevant period.

It has said this is not in conformity with norms and would soon send a note to Cabinet in this regard. In the absence of sufficient profit before tax (PBT), loss making CPSEs are not allowed to distribute PRP, the DPE officials said adding there is no concept of providing PRP based on the consolidated account of holding company.

Patna: Corporate affairs minister in UPA-I and RJD MP Premchand Gupta is the latest politician to figure in the coalgate scam after it came to light that IST Steel and Power Ltd, a company which hi

In view of the growing supply deficit of coal, the Planning Commission has suggested spinning off Coal India’s subsidiaries into separate entities so that each one of them can pursue its own goals.

“The industry would be better served if the subsidiaries were spun off as separate public sector companies encouraged to develop their own strategies of coal development including joint venture activities and acquisition of assets abroad,” said the 12th Five-Year (2012-17) Plan document.

Bermo (Bokaro), Aug.

The development comes ahead of CIL's board meeting to approve FSA with power companies

Coal India (CIL) has agreed to certain changes in the fuel supply pact to be entered with state-nominated agencies. "Model Fuel Supply Agreement (FSA) applicable for state-nominated agencies has been agreed by CIL in its meeting," the PSU firm said in a letter to its subsidiary firms including Eastern Coalfields, Central Coalfields and Western Coalfields among others.

Coal India has introduced a one-time offer that allows power utilities to lift the fuel directly from mines.

The scheme is available for independent power producers drawing coal under fuel supply agreements (FSAs) as well. “A one-time offer is being made to all power utilities drawing coal under the FSA during 2012-13 to lift the coal, which is held in the stocks on ‘as is where is' basis with the stipulation that the power stations will make their own evacuation arrangement,” CIL has said in a notice. This is the first time Coal India has initiated such a move.

A day after Maoists killed six CISF personnel and a driver inside the biggest iron ore mining facility in the country, the National Mineral Development Corporation (NMDC) complex here remained ungu

The power ministry has asked the coal ministry to instruct Coal India Limited (CIL) to continue supplying coal to power plants through the memorandum of understanding (MoU) route till the time the

Producers say move shows CIL's attitude towards meeting fuel supply obligations

In a twist to the unending drama over coal supply, Coal India Ltd (CIL) has refused to supply to power plants commissioned since December 2011. The move is set to stall investment worth Rs 40,000 crore in new power capacity of 8,156 Mw. This includes a 300-Mw unit of Reliance Power’s Rosa power plant in UP and a 660-Mw plant of China Light & Power (CLP) at Jhajjar, Haryana.

New Delhi Power companies have sought intervention from the power ministry to ensure that coal supply is maintained to power plants through the memorandum of understanding (MoU) route until fuel supply agreements (FSAs) are signed.

This comes after the Central Coalfields Ltd (CCL), a Coal India Ltd subsidiary, recently issued a circular to caution its customers that the MoU coal supply could be discontinued from June. Private power companies have warned that about 8,500 mw capacity could get stranded, if the CCL does not withdraw the circular.