Coal India to take a call on fuel supply agreements today

Non-official directors seem not in favour, may turn down the proposal

yash

Yash Vardhan Shukla | March 28, 2012



The board of directors of Coal India Limited is meeting today to decide whether it will sign fuel supply agreements (FSAs) with power companies or not.

This meeting is very important for both power companies and for CIL. The additional secretary of coal ministry and acting chairman of Coal India Limited, Zohra Chatterjee, will take the decision on FSA after this meeting, sources said.

However, according to the sources, non-official board members are not in favour of signing FSAs. It is mandatory that the FSA proposal should be cleared by the board before signing it with different power companies. The number of non-official directors or nominated directors can change the dynamics of the proposal. Significantly there are seven non-official directors which is a sufficient number to turn down this proposal.

Non-official directors think that CIL cannot arrange sufficient coal for power projects and hence should not sign FSAs. The coal ministry, on the other hand, wants CIL to sign FSAs following instructions from the Prime Minister’s Office.

Comments

 

Other News

“Indians, yet treated like outsiders”

Moving to Delhi-NCR for education can be an exciting experience for students from Northeast India. It gives us a chance to meet new people, experience a different culture and become more independent. But living away from home also comes with challenges that people who have not experienced them may not al

Import duty on major edible oils cut

The government has reduced the Basic Customs Duty (BCD) on major imported crude edible oils with a view to moderating domestic edible oil prices, providing relief to consumers and mitigating inflationary pressures arising from the sharp increase in international edible oil prices.  

From pyramid to platform: BRICS agenda for Global South

In his opening address at the 18th BRICS Summit in New Delhi on September 12, prime minister Narendra Modi did something India`s diplomacy has been building towards for three years: he moved the ‘Voice of the Global South’ from a slogan to a work plan. Addressing the leaders, he argued that t

How to realise the full transformative potential of PM-JAY

The Pradhan Mantri Jan Arogya Yojana (PM-JAY), a welfare scheme which covers approximately 45 crore beneficiaries across India, provides cashless health cover of Rs. 5 lakh per family per year. It is the largest health insurance scheme which helped crores of poor families by reducing out-of-pocket expend

The missing men in India`s family planning story

Every pregnancy requires two people. Yet India`s family planning programme continues to ask only one of them to bear almost all of its medical consequences. The newly released National Family Health Survey-6 (2023-24) confirms just how entrenched this asymmetry remains: 36.5% of currently married women a

`Development must be judged beyond GDP, with rights and justice at core`

Delivering the IXth Chief Justice M.C. Chagla Memorial Lecture on ‘Human Rights and Sustainable Development Goals’, in Mumbai Friday,  former Chief Justice of India Bhushan R. Gavai questioned whether conventional economic indicators such as gross domestic product (GDP), national income,

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter