The Modi government has taken a giant stride towards ending Coal India’s monopoly in commercial coal mining. In an interview to CNBC-TV18, Gopal Singh, CMD of Coal India discussed what the implications can be for both Coal India and generally for the availability and price of coal in the country.
The Modi government has taken a giant stride towards ending Coal India’s monopoly in commercial coal mining.
The return of commercial coal mining comes after about 50 years. It was in 1974 that all coal mining was nationalised.
In an interview to CNBC-TV18, Gopal Singh, CMD of Coal India discussed what the implications can be for both Coal India and generally for the availability and price of coal in the country.
Singh said that we will see more competition post government's move with regards to commercial mining.
He further said that any healthy competition is always good for the industry and the nation.
According to him, image of Coal India will improve post government's move.
Talking about business, he said we are selling domestic coal at a 44-64 percent discount to imported coal.
On pricing front, he said that we didn't undertake any price increase in Q3, took a price hike in January.
Quarter four will reflect price increase thus performance should be very good, he added.
Singh mentioned that we are trying to maximise dispatch of coal. We will strive to achieve target of 590 million tonne in dispatches.
He further mentioned that we are looking at 10-15 percent growth in FY19.
For entire interview, watch accompanying video.
