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

Not just politics, let`s discuss policies too

Why public policy matters Most days, India`s loudest debates stop at the ballot box. We can name every major leader and recall every campaign slogan. Still, far fewer of us can explain why a widow`s pension is delayed or how a government school`s budget is actually approved. That

When algorithms decide and children die

The images have not left me, of dead and wounded children being carried in the arms of the medics and relatives to the ambulances and hospitals. On February 28, at the start of Operation Epic Fury, cruise missiles struck the Shajareh Tayyebeh school – officially named a girls’ school, in Minab,

The economics of representation: Why women in power matter

India’s democracy has grown in scale, but not quite in balance. Women today are active participants in elections, influencing outcomes in ways that were not as visible earlier. Yet their presence in legislative institutions continues to lag behind. The Nari Shakti Vandan Adhiniyam was meant to addres

India will be powerful, not aggressive: Bhaiyyaji

India is poised to emerge as a global power but will remain rooted in its civilisational ethos of non-aggression and harmony, former RSS General Secretary Suresh `Bhaiyyaji` Joshi has said.   He was speaking at the launch of “Rashtrabhav,” a book by Ravindra Sathe

AI: Code, Control, Conquer

India today stands at a critical juncture in the area of artificial intelligence. While the country is among the fastest adopters of AI in the world, it remains heavily reliant on technologies developed elsewhere. This paradox, experts warn, cannot persist if India seeks technological sovereignty.

RBI pauses to assess inflation risks, policy transmission

The Reserve Bank of India (RBI) has begun the new fiscal year with a calibrated pause, keeping the repo rate unchanged at 5.25 per cent in its April Monetary Policy Committee (MPC) meeting. The decision, taken unanimously, reflects a shift from aggressive policy action to cautious observation after a signi


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter