Global consultancy firm Deloitte, which has been selected to conduct a study on restructuring of state-owned Coal India Ltd, has been asked by the Coal Ministry to submit its report by next month.
“Deloitte has been asked by the Coal Ministry to submit its report by December,” a source said.
In case, Deloitte is unable to submit the report by that period “it will surely submit interim report”, the source added.
The Coal Ministry had earlier selected Deloitte from among the nine shortlisted companies to conduct a study on CIL restructuring.
The Ministry had invited proposals from nine shortlisted firms, including ICICI Securities, KPMG, Ernst & Young, McKinsey, Deloitte and Crisil, for CIL restructuring.
An expression of interest with regard to providing consultancy for CIL restructuring was invited earlier this year and 17 firms, including SBI Capital and Infosys, had responded to the proposal.
The Coal Ministry had earlier informed the Prime Minister’s Office that it will be appointing a consultant with international expertise for framing the timeline to take forward the proposal on restructuring of the state-owned miner.
The Planning Commission and many high-level panels, including the Expert Committee on Road Map for Coal Sector Reforms — also known as T L Shankar Committee — recommended restructuring of CIL, keeping in view the rapidly increasing demand of coal, the need for enhancing coal production and to make the coal sector competitive.