PMO plan for Coal India to inflate import bill by $11 bn
New Delhi The country’s energy import bill is on course to balloon further. The missive from the Prime Minister’s Office to Coal India (CIL) that the company must meet at least 80% of the coal requirement of power plants or get ready to pay a penalty will effectively inflate the country’s coal import bill, already growing at a scorching pace, by another $11 billion annually. High prices of imported coal will increase power tariffs although the whole plan might help reduce the country’s yawning electricity deficit.
Publication Date:
17/02/2012