Chinese units based on imported coal have, done better than BHEL on some parameters
NEW DELHI . T he government has decided to incentivise private sector coal mines to sell their surplus produce to state-run Coal India but with the assurance they can get it back at a profit in future. To ensure the proposal has wide-ranging support, the government plans to set up a committee that will include financial sector luminaries like HDFC Bank chairman Deepak Parekh, ICICI Bank chief Chanda Kochhar and others to fine tune it.
The plan is essentially a simple one. Private sector coal miners will be encouraged to produce more coal than they need for their units. The excess production will be sold to Coal India and the producers will have the right to buy back the coal in future if they need but at a price close to the current price.
Coal India will basically act as a coal bank. Endorsing the proposal, deputy chairman of Planning Commission Montek Singh Ahluwalia has, however, said the government should not be seen as extending subsidies to independent power plants through the plan. Indian Express
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