With outstanding dues of state-run Coal India and its arms soaring to Rs 26,480 crore as of January 31, a parliamentary panel has said the matter should be taken more vigorously to recover the pending amount, particularly from consumers like power generating units, cement and fertiliser industries.
The Standing Committee on Coal, Mines and Steel in its report tabled in Parliament said that a huge amount of dues are outstanding from the states and other utilities.
“…as a result, outstanding dues of CIL (Coal India) , SCCL (Singareni Collieries Company Ltd ) and NLC India Ltd (NLCIL) as on January 31, 2022 have soared to Rs 15,097.01 crore, Rs 5,620.35 crore and Rs 5,763.23 crore, respectively,” it said.
The coal ministry has informed the Committee that letters have been sent from Secretary Coal to Secretary Power and Chief Secretaries of states concerned for liquidation of outstanding dues.
The Committee have also been informed that CIL and its subsidiaries have already filed several claims with Administrative Mechanism for Resolution of CPSEs Disputes (AMRCD) pertaining to different power plants/boards.
Further, fuel supply agreement also provides for levy of interest on delayed payment.
“While appreciating the initiative taken by ministry and coal/lignite PSUs, the committee desire that the matter should be taken more vigorously to recover the outstanding amount particularly from consumers like power generating units, cement and fertiliser industries etc,” it said.
The Committee desire to be appraised of the recoveries made in due course.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.