No plans to split Coal India into seven companies, says Coal Minister Piyush Goyal

Power and Coal Minister Piyush Goyal has denied any plans to break Coal India Ltd, saying ‘there was no value in splitting up country’s biggest coal producer’.
File pic - Coal Minister Piyush Goyal - India TV
India TV Business Desk New Delhi December 03, 2016 9:23 IST

Power and Coal Minister Piyush Goyal has denied any plans to break Coal India Ltd, saying ‘there was no value in splitting up country’s biggest coal producer’.

"In 2014, when I took over, I reviewed the company and I realised that the strength of the PSU comes from being one company. There is absolutely no benefit to the company by splitting it," Goyal said here on Friday.

CIL, which accounts for over 80 per cent of the domestic coal production, is eyeing 598 million tonne production in 2016-17 and targeting to produce a billion tonnes of the fossil fuel by 2020, Goyal told reporters on the sideline of Make in Odisha conclave here.

There were reports that government officials have proposed that Coal India should be broken up into seven companies to make it more competitive and efficient. 

"I haven't seen it. If somebody else has seen it then I don't know," Goyal replied when asked about November 30 proposal which is expected to be presented to Prime Minister Narendra Modi soon.

"I have made my view known in June 2014. Coal India's strength comes from it being one company," Goyal said.

The company, majority owned by the government, had been scouting for an overseas location to set up a smelting plant.

Asked about delay in auction of coal mines, Goyal said, "It is in final stages and very soon we will do it. I think after the Parliament session I will take it up."

Talking about the impact of demonetisation on state discoms, Goyal said, "Discoms are now having a good time. They are recovering their overdues. People are coming to settle some of their past dues."

He further said all PSUs under his Ministry have already started the process of paying salaries and debts by digital mode and so there is absolutely no impact of demonetisation there.

"All PSUs are paying all salaries digitally, in a transparent manner. The biggest benefit of demonetisation is going to the workers in the unorganised sector who will be able to get the minimum wages," Goyal said.

 

Related Tags: Piyush GoyalCoal India
 
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