The Planning Commission has asked Coal India Ltd (CIL), the country’s largest coal producer, to double the amount of coal it sells online. “We have recommended that at least 20 per cent of coal should be sold through e-auction,” said Kirit Parikh, member (energy), Planning Commission.
CIL currently puts for sale about 10 per cent of its annual production through online bidding. The National Coal Distribution Policy has already recommended increasing this quantum in a bid to ensure better price discovery of the fuel.
Parikh also added that the offtake of even the quantum of coal being auctioned online currently is not taking place due to the reluctance of the companies to pay a higher price.
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