Coal costs are all set to go up in October with Coal India withdrawing the discount given by them. Coal India Board made this decision due to increase in demand for coal. Hence, coal sold via auction in October will be expensive by 10 percent. Auction for the month of October will soon be done by all the subsidiary units of Coal India including BCCL. The sale of the coal was disrupted due to Covid epidemic and hence, discounts were being given to attract consumers. With demand for coal increasing with lockdown ending, CIL has decided to withdraw the waiver.
The notification with the signature of M Vishwanathan, the company secretary of Coal India was issued earlier . It has been decided to withdraw the 10 percent discount given on the reserve price to the consumers by determining the notified price and reserve price of the coal being sold. Coal companies can increase the reserve price in October by 10 percent for selling coal through various types of e-auction, while they have been freed from the month of November. Now the reserve price will be higher than the notified one.
