‘Nearing consensus on price pooling mechanism’

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SummaryCoal secretary SK Srivastava hinted on Monday that a consensus might be evolved soon on modalities of the proposed price pooling mechanism, which is meant to help CIL pass on impact of the costly coal imports evenly across the power sector.

Coal secretary SK Srivastava hinted on Monday that a consensus might be evolved soon on modalities of the proposed price pooling mechanism, which is meant to help CIL pass on impact of the costly coal imports evenly across the power sector.

“The government is likely to come out with a clear view on the issue of coal pricing in about a fortnight's time and the matter was under ‘active consideration’ of the ministries of coal and power,” Srivastava said, while addressing a conference organized by the India Energy Forum here, adding that various parameters of price pooling were being considered.

Although hopeful on achieving the coal production target for the current Five-year Plan, he cautioned that the country would still need to import coal to meet the domestic fuel shortfall.

“The coal sector would attain 8% growth in the 12th Plan as envisaged by the Planning Commission. Even if this level is reached, the country would be faced with a huge import bill,” the coal secretary said.

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