Govt To Correct Glitches In Pricing System Of Coal India: Minister

The Indian Government has said that it is planning to correct the glitches in the pricing system of Coal India and change it to reflect the true price of the coal it sells, media reported.

Govt To Correct Glitches In Pricing System Of Coal India: Minister
Coal India: Quotes, News
BSE 322.55BSE Quote4.75 (1.47%)
NSE 322.30NSE Quote5.35 (1.66%)
Commenting on the issue, Coal and Power Minister Piyush Goyal told the media, "The Government is working on the modalities of coal supply contract auctions, which have been postponed to next year. With international prices on the decline, we have discovered certain anomalies in the current pricing of various grades of coal the company sells."

"It will now be corrected. Prices of each grade of coal will be uniformly spread based on the heat content across the range of coal the company sells." he added.

As per reports, the Government has asked Coal India to reduce the price of premium quality coal and increase that of the lower quality fuel.

Meanwhile, shares of the company were trading at Rs 358.80 a piece, up 0.39 per cent from the previous close at 11:36 hours on BSE.

Read more about: coal india
Story first published: Monday, August 31, 2015, 12:50 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?