CIL seeks stakeholders' views on new pricing policy

New Delhi: Coal India Ltd (CIL) has sought suggestions from stakeholders on issues related to the proposed new pricing policy for coal which will be linked strictly to quality.

"The stakeholder consultation meeting with Chairman of Coal India was held this month. It was an interactive session with coal consumers to discuss CIL's new pricing mechanism proposed with GCV-based billing," a source privy to the development said.

During the meeting, CIL had requested the participants from sectors like cement, steel and power for a detailed list of difficulties that they foresee in implementation of GCV-based billing system and suggestions for resolving the issues, the source added.

CIL on April 1 said it is working out the modalities to raise coal sales bills on gross calorific value (GCV) basis and it will soon intimate the implementation date.

In January this year, CIL had informed that sales bills will be raised on GCV basis with effect from April 1, 2018. At present prices are computed based on grade policy.

The new mechanism will compute prices on every unit of GCV of coal, doing away with the grade policy at present.