Recover coal companies dues from utilities vigorously, suggests Par panel

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.)

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