PROVISIONAL PROFIT OF CIL ESTIMATED AT RS.1400 CRORES
The
year 2001-02 witnessed increased production, off take and productivity
by Coal India Limited (CIL). The Government is committed to speed
up growth and all round development in the coal sector. Overall
coal production increased in 2001-02 by over 11 million tonnes
compared to production in 2000-01. This directly contributed Rs.
460 crores towards the profit of 2001-02. After taking into account
the increase in expenditure and provisions etc. in 2001-02, the
provisional profit has been arrived at Rs.1400 crores.
CIL
had suffered a loss of Rs. 1414.47 crore during the year 2000-01.
This was on account of massive impact of wage revision with its
arrears liability under National Coal Wage Agreement-VI, with
effect from 1.7.96 for non-executives and pay revision with effect
from 1.1.97 for executives. The provision made for the wage arrears
in 2000-01 was Rs.3031.66 crore.
Coal off-take
plan of CIL for the year 2002-03 has been fixed at 286.4 million
tonnes as against actual of 282.2 million tonnes in 2001-02. CIL
has augmented its off-take plan by 4.2 million tonnes over the
previous year. CIL is in a position to supply low ash coal to
the existing thermal power plants which required such coal. CIL
is supplying more than 70 million tonnes per year of low ash coal
of A, B,C and D grades to the power sector, which is about 37
per cent of the total despatch to the power sector.
The
above was informed by MOS for Coal & Mines Shri Ravi Shankar
Prasad in a written reply today in Lok Sabha.
