Government today approved payment of Performance Related Pay to executives and non-unionised supervisors of Coal India Ltd (CIL) and its subsidiaries.

The Cabinet has approved the recommendations of the Committee of Secretaries to regularise the 2007 Pay Revision implemented by CIL with effect from January 1, 2007 in the loss making subsidiaries, an official release said.

This year, so far, has been evidently better for Coal India Ltd (CIL) as far as production and offtake volumes are concerned. For instance, production and offtake (or sales volume) for the first six months of FY16 increased 8.9% and 9.3%, respectively, reasonably higher than the past two years’ growth rates for the same period. In fact, September offtake improved by an impressive 15%, which is the best monthly growth in recent years.

A sharp rate cut may help in the overall economic recovery, but could hurt companies that are sitting on cash. A dip in rates shrinks interest income that adds to their bottom lines.

Companies such as Coal India, Hindustan Zinc, Nalco, Sanofi India and Pfizer fall in this category. They are struggling to deliver meaningful growth and a large slice of their profit comes from interest income.

Calcutta, Sept. 23: Coal India may have to curtail its investment plans as the PSU needs to allot more funds for compensation to land losers, under a new government ruling. The company had planned to invest a mammoth Rs 60,000 crore to produce almost 900 million tonnes of coal by the end of the decade, a target which may be out of reach now.

The Centre's decision to offer uniform compensation to land losers under the Right to Fair Compensation and Transperancy in Land Acquisition, Rehabilitation and Resettlement Act, 2013 may force Coal India to change its plans.

KOLKATA: Coal India's plan to double production to almost 1 billion tonnes by 2020 hinges precariously on the successful completion of 25 key projects that are meant to deliver half the targeted output.

For most of these projects, land is yet to be acquired, environmental approvals have to be obtained and transportation of coal by rail, known as evacuation, has to be arranged.

Just three years after India's power sector faced a fuel crisis, the domestic coal availability at thermal power plants has reached an all-time high. However, this is unlikely to translate into equivalent power availability, given that the country's power distribution companies are suffering heavy losses.

The average coal availability at power stations in September has been at a record stock of 23 days. Coal India Ltd's (CIL's) production achievement in August stood at 96 per cent, while India's coal imports in July declined 19 per cent from a year ago to 19.3 million tonnes.

As it plans to double its output, Coal India Limited is faced with a major human resource crisis, a recent organisation-wide study has revealed.

The company fears staff poaching once mining in auctioned blocks begins, and its ranking among its PSU peers is lowest in key HR parameters.

KOLKATA: State-run Coal IndiaBSE -4.66 % plans to change its e-auction supply strategy to bump up price realisation, which has dipped on account of abundance of the fossil fuel in the domestic market and availability of cheap imported coal. For the world's largest producer of the fossil fuel, the fall in realisation per tonne ofcoal comes at a time when it is already facing a rise in input costs and salary bills.

Shares of Coal India have dipped 7% to Rs 366, extending their over 10% decline in the past one week on the BSE, on government stake sale plan reports.

The stock has fallen 17.4% in the past six trading sessions, from Rs 443 on August 4, 2015, compared to a 1.7% decline in the S&P BSE Sensex.

State-owned Coal India (CIL) will invest Rs 13,900 crore to take its production to 908 million tonnes (MT) by 2019-20, the government said today.

"Coal India (CIL) has prepared a roadmap for achieving a coal production level of about 908 MT in 2019-20 from the current level of production of 494.23 MT," Coal and Power Minister Piyush Goyal said in a written reply to Lok Sabha.

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