SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 22 Dec, 2016  

Coal9.Thmb.jpg Govt allows coal swap between state-run, private cos

Coal9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 22 Dec, 2016
In a move to improve fuel availability and cut its transportation cost, the government on Wednesday allowed swapping of coal between public sector and private sector companies.

"Only today (Wednesday) I have approved the proposal. Henceforth, government and public sector companies can swap their coal with private companies also and I would like it to be across sectors," Coal and Power Minister Piyush Goyal said at an event in New Delhi organised by state-run Power Grid Corp.

"We would be allowing all public and private companies to swap coal to achieve the next level of efficiency through rationalisation of coal linkages.

"To begin with we are working on power to power sector," he said, adding that the guidelines, which were being framed, would be issued in the next 30 days.

"I would urge you," Goyal told Power Ministry officials present "to talk to DIPP (Department of Industrial Policy and Promotion) or any other administrative ministries, or the coal ministry, if possible we could look at the next stage where we could allow swaps across consumers in the country".

He also urged central transmission utility Power Grid, as well as state transmission companies, to unlock capital that has accrued over the years in transmission assets.

"I think it is time now for Power Grid to seriously look at moving out of becoming an asset holding company into a project management, implementing company. These assets which have accrued over the last 25 years, it's time to look at at least halving the balance sheet so that it can unlock your capital," Goyal said.

He asked ministry officials to look at some changes to the regulatory framework so that projects of Power Grid and other transmission companies "can move from a cost plus scenario to possibly an escalating formula or a fixed plus, or inflation linked formula".
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter