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Coal India Ltd is facing huge pile up of inventory in view of low offtake and higher production. The Centre is fearing that CIL may have to cut production if the situation continues.
The Union Power and Coal Minister said here at a Indian Chamber of Commerce meeting that the Centre was pushing Coal India to liquidate the unsold pithead inventory of 40 million tonnes.
"Coal India is unable to sell more coal.. It is unable to stock further. I have talked to Coal India chairman and discussed how to liquidate coal stock. I have said get this coal out so that production (of coal) does not fall, " he said. He indicated that price reduction could also be considered to liquidate the stocks. As technically the Centre cannot direct price reduction, the Minister said CIL would have to take call on the issue.
Goyal said the Government has not revised CIL production target 550 mt for the year.
The minister said he has able to reduce stress in the power sector by resolving issues for thermal power plants stranded totalling 30,000 MW capacity. The Uday scheme for power sector would be "amended" to accomodate 12 States, which have not been unable to un-bundled their power utilities.
He said West Bengal and Kerala have informally indicated that they would join the scheme meant for financial restructuring of discoms and involving the State Governments by way of guarantees.
He also said the Centre would soon allow 'swap' power sale deal, provided the power generators paid the grid players the fixed cost.
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