Amid shortage of coal, Union Coal Minister Pralhad Joshi on Monday asked state-owned Coal India Ltd (CIL) and its subsidiaries to take steps to ensure at least 18 days of coal stock in thermal power plants by the end of this month.
Addressing the 47th foundation day function of Coal India Ltd (CIL) virtually, the minister said global coal prices have increased more than three times recently which resulted in a 38% decrease in coal imports to India. Similarly, demand for power has also gone up by more than 24% as the economy growing fast.
He also asked CIL to attain 1 billion tonne production by the end of 2024.
Coal India enjoys monopoly in supply of domestic coal needs as it accounts for over 80% of domestic coal output.
Joshi on Saturday hailed coal companies, including CIL, for a record supply of 22 lakh tonnes of dry fuel to thermal power plants.
Joshi had on Thursday said CIL has stepped up fuel supply to meet the increased demand of the power sector and arrest shortages at thermal power plants caused due to the rising cost of imported coal.
As per a report of the Central Electricity Authority (CEA), the coal stock with power plants stood at 9.03 million tonnes as of October 26.
Due to the increase in the supply of dry fuel in the past week, almost five days' stock is available at thermal power plants. In around a week's time, it is likely to reach six days' buffer stock, the government said.
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